UY: Uruguay agency sets roadmap for hemp sector development

Cannabis-derived food & feed, cosmetics, medicine and genetics offer the best export opportunities for Uruguay in the coming years, according to a recent report from the country’s Investment & Export Promotion Agency.

Noting those sectors represent the potential for “short-term export impact,” the Agency also said development of the industry can help attract investment, boost the fortunes of Uruguay’s farmers and continue the transition from illegal trade in cannabis.

Uruguay was the first country in the world to regulate the production of cannabis for adult recreational, medical and industrial use, and was the first to establish a regulatory framework to exploit the plant’s full potential. That led to a first wave of investment with global and domestic players setting up operations. The Agency said the country’s favorable geographic location and commitment to high value-added agricultural exports are positive indicators for Uruguayan hemp.

A well-functioning, secure, established framework that incorporates traceability and shields the industry from money washing over from the illegal trade, along with the country’s overall investment rating, can lead to further influx of foreign and domestic capital, the report said.


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