Marijuana marketing used to be a crazy dream, but now it is a reality as it has already been legalized in 13 different countries. Weed is broadly being distributed around the globe, and Uruguay is now converting on the new treasure spot for the industry.

Investors are interested in the small South American country to become the export hub for global marijuana. This business is growing all around the world, and the star participant to this developing industry is Uruguay, where the marijuana economy was growing gradually during the previous, but now it’s starting to grow faster.

Silverpeak Life Sciences has quadrupled its medical marijuana production and it is planning to expand up to 25 tons by 2020. Marijuana was previously demonized for many years, but things have changed and the plant has acquired a great segment of the medical market in many countries, and the recreational in some others.

Since the early part of the current century cannabis has become legal in many states in United States and this led to significant developments within the industry. Additionally, recreational cannabis sales legalization and export for adults in Canada became another important improvement for the industry. Prior to recreational legalization, many states legalized marijuana sales for medical reasons.

Because of this, marijuana consumption has increased exponentially all over North America, and this growth seems to not stop in the next years. The legalization of cannabis demonstrates a new range of promise, and now an enormous quantity of the investor´s money is flowing into marijuana operations, as well as its exports worldwide.

Why are companies hurry about weed export´s investment in Uruguay?

North American cannabis producers are seeing Uruguay as the gold mine for global exports of marijuana. It is projected that the industry´s export will reach $1 billion in a period of just five years taking advantage of the government support. Some other projections state that it may become a $100 million industry by 2020. With marijuana becoming legal in Uruguay, the worldwide weed revolution is just around the corner. An adult Uruguayan is now able to legally buy marijuana from pharmacies at government controlled prices. This has been great for cutting down illicit rates and for fighting against cartels, as well as for creating new job opportunities.

A recent study confirmed that Uruguay and Colombia are the largest legal cannabis producers in the South American region. This is the main reason why investors are thinking about these two countries as the export hub. But Uruguay has an important advantage because it is the unique country all over the world that has federally legalized recreational cannabis nationwide.

Despite Uruguay has a small population of only 3.5 million inhabitants, marijuana production and exports are growing steadily. Cannabis cultivation is beneficial for the country beyond human health. Its cultivation creates new job positions and increases the country´s exports. Additionally, it has gained the attention of foreign investors from other Latin American countries, United States and Canada.

The country´s laws allow the population to freely consume weed without being prosecuted and reduces illegal drug trade at the same time. Today, 6 years after becoming the first country to legalize recreational marijuana, Uruguay is prepared to become the hub for medical cannabis to export to the rest of the world.

In this context, Silverpeak Life Sciences, a company from the United States, wants to invest in the small South American country. The company is working together with several other investors to speed up the production up to $35 million. Also, they have a plan to build an extraction lab by 2020.

The investment can develop an auspicious legal market for cannabis as the drug has been denigrated for many years. This is the reason why Silverpeak´s subsidiary headquarters in Uruguay has requested permission to IRCCA, the regulatory agency of cannabis, to rise its annual cannabis plant production to 400 tons.

With proper investment and support, it is undoubtedly that in a short time this small South American country will be the worldwide leader in medical marijuana production.

Silverpeak´s estimation is that the 6 tons’ harvest can produce a revenue increase of 40 million dollars. This will only be possible if they get permission to export cannabis flowers and THC and CBD extract to Germany, Australia, Canada and the UK.

IRCCA has already approved cannabis projects for up to $57 million, and Silverpeak target is to get permission for another project worth around $40 million. The main objective of this permissions is to speed up the quantity of licensed marijuana producers approved to provide recreational weed for new pharmacies in the country.

Because of marijuana industry boom all across United States and Canada, investors and consumers are enthusiasts about the marijuana production growth in the South America country.