AR: Senate advances bill on hemp and MMJ

Argentina’s Senate has overwhelmingly approved a law that would establish a regulatory framework for the development of the medical cannabis and industrial hemp sectors.

The regulation, which backers say could quickly generate 10,000 jobs in the hemp production chain, passed the Senate 56-5 with one abstention.

Regulated medical cannabis and hemp industries in Argentina could bring as much as $500 million in domestic sales and $50 million in exports annually, Argentina’s Ministry of Development has estimated.

The new law aims to establish a legal framework and regulations for sowing, cultivation, harvesting, production, storage, transport, marketing, import, export and possession of cannabis seeds and cannabis derivatives. It would also encourage public, private or mixed investment projects in the medical cannabis and hemp sectors.


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