Fifteen months after legalizing medical cannabis, the Peruvian government is now providing regulatory guidelines for legal medical use and cultivation.
Understanding Peru Medical Cannabis Regulations
For many years, Peru has been one of the most prosperous countries in Latin America, and until 2014, they maintained and average yearly growth rate of 5.9 percent. However, after a few public scandals, growth has declined, massive infrastructure projects were halted, and the price of natural resources dropped considerably. All this combined has cast a dark shadow over the country’s economy.
As natural-resource profits continue to diminish in Peru, cannabis has the potential to raise the economy once more. Seeing that other Latin American countries, such as Colombia, Uruguay and Mexico, are pushing forward, Peru has moved to join the cannabis race.
What does this legislation cover?
Initially, the legislation didn’t provide any information on how medical cannabis would operate and it allowed 15 months for regulatory bodies to draft the full legislation. The new deregulation document is quite extensive and contains provisions for many aspects of the cannabis industry.
Although all the details haven’t yet been made public, the Peruvian Times reports that the legislation contains “guidelines and procedures for research, farming and production limits, importation, and the marketing and sale of medicinal marijuana and its byproducts. It also “outlines the procedures for medical prescriptions, including a registry of patients/users.”
After the new legislation was officially announced, Plena Global Holdings Inc., a horticultural medical cannabis firm based in Canada, released this announcement: “Officials in Peru have been working with . . . Plena Global Holdings Inc. to ensure the country can benefit from an effective transition to a regulated [cannabis] industry . . . The extended period of time between signing of the law legalizing medical cannabis, and the adoption of the regulatory framework . . . ensures a thorough framework for industry operations was established.”
Check back with us for more on this developing story, we will update as soon as more information is released to the public. Also, make sure to subscribe to our Weekly Newsletter, the top source for all cannabis-related news.