News Americas, NEW YORK, NY, Mon. Oct. 25, 2021: The value of the cannabis industry in Latin America will hit the $300 million in 2024.
That’s according to research data shared recently by VeePN
The Brazilian cannabis industry was worth $2.9 billion back in 2019 and could hit $10 billion by 2024.
In Mexico, the value of the cannabis industry in 2021 is $3.5 million, and the price could exceed $50 million by 2024.
In July Colombia lifted restrictions on the supply of marijuana for medical purposes which could see its value rise.
Due to all the changes for the cannabis industry – the industry globally is currently valued at $9.75 billion. Moreover, this industry has enormous potential, including providing jobs for many people. This will be a big bailout after 26 million jobs were lost in 2020 due to the pandemic.
In the near future, Latin America may become inevitably very rich in the Cannabis Industry.