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California-based Medical Marijuana eyes Mexico as next big market

Submitted by Marijuana News on Wed, 02/03/2016 - 08:45

A Cannabis plant is pictured at the ''Weed the People'' event as enthusiasts gather to celebrate the legalization of the recreational use of marijuana in Portland, Oregon July 3, 2015. Reuters/Steve Dipaola

Medical Marijuana Inc, a pioneer in the industrial hemp business, is betting on Mexico as its next big market as the country opens up to the import of some cannabis-derived products for medical use.

The California-based company manufactures a hemp oil which can, under permits granted this week, be imported to Mexico for the first time to treat specific medical cases. It already supplies a similar product to Brazil.

Stuart Titus, Medical Marijuana's chief executive, said Mexico represented a "$1 billion to $2 billion opportunity" in terms of cumulative revenue over the next 10 years.

Many companies in the legal cannabis business are considering a bet on Mexico after a Supreme Court decision in November opened the door...

READ MORE: 
http://feeds.reuters.com/~r/reuters/healthNews/~3/z8vq982WqWI/story01.htm
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