IBOV 173,695.84 ▲ 1.04% IPSA 11,474.31 ▼ 0.55% IPC MEX 65,522.56 ▼ 0.38% MERVAL 2,982,634 ▼ 0.42% COLCAP 2,503.96 ▼ 0.27% BVL PERÚ 60,117.56 ▲ 0.70% USD/BRL5.15▼ 0.14% USD/MXN16.95— 0.00% USD/CLP912.55▼ 0.03% USD/COP3,090▲ 1.52% USD/PEN3.35▼ 0.04% USD/ARS1,512▲ 0.13% USD/UYU40.18▲ 1.06% USD/PYG5,968▲ 0.82% USD/BOB11.47▲ 0.68% USD/DOP58.01▲ 0.07% USD/CRC447.25▲ 0.82% USD/GTQ7.62▲ 2.02% USD/HNL26.82▲ 1.52% USD/NIO36.62▲ 0.58% USD/VES783.11▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 0.97% EUR/BRL6.01▲ 0.18% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 173,695.84 ▲ 1.04% IPSA 11,474.31 ▼ 0.55% IPC MEX 65,522.56 ▼ 0.38% MERVAL 2,982,634 ▼ 0.42% COLCAP 2,503.96 ▼ 0.27% BVL PERÚ 60,117.56 ▲ 0.70% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Mexico, World Largest Marijuana Market, Moves One Step Closer to Legalizing Use

By · November 14, 2020 · 2 min read

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RIO DE JANEIRO, BRAZIL – Mexican senators on Friday, November 13th, began weighing a sweeping initiative to legalize recreational use and sale of marijuana, a proposal that could create the world’s largest weed market in a country battered by a violent war against drug gangs.

The Supreme Court ruled in 2018 that recreational marijuana should be permitted, and lawmakers in 2017 legalized the use of medicinal marijuana. But the country has yet to pass laws that would legalize its recreational use, or regulations for medicinal marijuana.

Mexican senators on Frida, November 13th, began weighing a sweeping initiative to legalize recreational use and sale of marijuana, a proposal that could create the world’s largest weed market in a country battered by a violent war against drug gangs.
Mexican senators on Frida, November 13th, began weighing a sweeping initiative to legalize recreational use and sale of marijuana, a proposal that could create the world’s largest weed market in a country battered by a violent war against drug gangs.
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Lawmakers are now rushing to try to meet a December 15th deadline set by the Supreme Court for legalization. They have the support of Mexican President Andrés Manuel López Obrador who has aimed to remove the drug as a source of income for violent drug gangs.

Discussed by the Senate’s Health, Justice, and Legislative studies committees on Friday, the marijuana bill would allow licensed sale of pot, would let users carry up to 28 grams of the drug and grow as many as four cannabis plants in their homes.

It would also create the Mexican Institute for Regulation and Cannabis Control within the Health Ministry.

Among the restrictions, children and teenagers would be prohibited from smoking pot or being at all involved in its cultivation and sale, and the drug would not be allowed while driving.

The possible legalization of hemp, a product derived from marijuana, for industrial use in sectors such as construction or food production, has not yet been hammered out, a legislative staffer told Reuters.

However, the bill does propose allowing the sale, import and export of non-psychoactive cannabis products for industrial use.

Major companies are positioning themselves for a time when Mexico opens up what would be the world’s biggest legal cannabis market in terms of population, where the drug can be lawfully cultivated and sold.

Pro-marijuana activists have called for the passage of the bill in recent weeks with a cannabis “garden” next to the Senate, where police have turned a blind eye to recreational users freely lighting up joints.

Source: Reuters

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