Argentina's new cannabis watchdog is overseeing more than 50 projects related to the research and development of cannabis and is establishing a regulatory framework as it bids to enter the potentially lucrative weed export market.
"The industry has incredible potential," said Gabriel Gimenez, director of the ARICCAME cannabis agency created in January this year, last week.
He said 51 regulated research and development projects are currently taking place around the country, including Cannava in Jujuy province, Agrogenetica Riojana in La Rioja, Biofabrica in Misiones, and Medicinal Cannabis in San Juan.
Argentina is looking to build its domestic medical cannabis market and generate foreign currency through exports. It allows cannabis-derived products in pharmacies and has ordered insurers to cover prescriptions for marijuana-based medications, but recreational use is still forbidden.
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