IBOV 168,454 ▼ 0.70% IPSA 10,806 ▼ 0.90% IPC MEX 68,305 ▼ 0.26% MERVAL 3,291,883 ▲ 1.14% COLCAP 2,377.03 ▲ 0.25% BVL PERÚ 58,096.41 ▲ 2.66% USD/BRL5.11▲ 0.36% USD/MXN17.27▲ 0.43% USD/CLP889.77▲ 0.38% USD/COP3,444▼ 1.30% USD/PEN3.38▼ 0.84% USD/ARS1,441▲ 0.30% USD/UYU40.17▲ 0.32% USD/PYG6,093▲ 1.36% USD/BOB6.86▲ 1.80% USD/DOP58.40▲ 0.53% USD/CRC450.02▲ 1.60% USD/GTQ7.62▲ 2.23% USD/HNL26.66▲ 1.32% USD/NIO36.62▲ 0.68% USD/VES595.29▲ 1.47% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.09▲ 0.07% USD/TTD6.75▲ 1.39% EUR/BRL5.87▼ 0.12% BRENT 78.68 ▼ 0.35% WTI 75.01 ▼ 1.37% IRON ORE 161.91 — — COPPER 6.37 ▼ 1.86% GOLD 4,278 ▼ 1.23% SILVER 67.96 ▼ 2.78% SOY 1,151 ▲ 1.81% CORN 421.25 ▲ 1.81% WHEAT 621.50 ▲ 4.28% COFFEE 272.35 ▼ 1.77% SUGAR 14.37 ▲ 3.98% ORANGE JUICE 149.50 ▲ 1.25% COTTON 79.73 ▲ 6.29% COCOA 4,204 ▲ 1.50% BEEF 249.05 ▼ 2.45% CATTLE 367.43 ▲ 0.15% LITHIUM 83.07 ▼ 0.63% PETR4 38.57 ▲ 0.08% VALE3 79.78 ▼ 2.04% ITUB4 40.80 ▲ 0.87% BBDC4 17.55 ▼ 0.62% ABEV3 16.19 ▼ 1.52% BBAS3 19.41 ▲ 0.05% B3SA3 14.61 ▼ 2.86% WEGE3 43.80 ▲ 2.26% PRIO3 56.74 ▼ 0.19% SUZB3 42.23 ▼ 1.63% RENT3 40.54 ▼ 1.03% AZZA3 16.60 ▼ 4.87% CSAN3 3.47 ▲ 6.12% RAIZ4 0.42 ▼ 2.33% PCAR3 1.68 ▼ 12.95% GMAT3 3.84 ▼ 1.79% PSSA3 51.55 ▲ 1.96% CVCB3 1.31 ▼ 2.96% POSI3 3.73 ▼ 1.58% SLCE3 13.75 ▼ 2.07% NATU3 7.83 ▼ 8.74% BRKM5 8.37 ▼ 1.06% RANI3 7.87 ▲ 0.90% CSNA3 5.63 ▼ 6.48% CMIN3 4.27 ▼ 1.84% USIM5 9.56 ▼ 5.63% GGBR4 22.81 ▼ 2.06% ENEV3 24.08 ▼ 1.47% NEOE3 33.80 — 0.00% CPFE3 43.43 ▼ 0.78% CMIG4 10.64 ▼ 0.75% EQTL3 37.09 ▼ 1.36% LREN3 14.45 ▼ 2.96% VIVT3 32.86 ▼ 2.14% RAIL3 12.45 ▼ 4.45% KLABIN 16.96 ▼ 0.59% RAIA DROGASIL 17.51 ▼ 0.91% RDOR3 33.12 ▼ 2.82% HAPV3 10.58 ▼ 5.62% FLRY3 14.69 ▼ 0.74% SMTO3 15.53 ▼ 2.76% UGPA3 24.19 ▲ 1.30% VBBR3 28.32 ▲ 1.43% BBSE3 39.30 ▲ 2.91% BPAC11 50.39 ▼ 0.61% CURY3 31.88 ▼ 2.51% AERI3 2.27 ▼ 1.73% VIVARA 20.72 ▼ 1.33% COMPASS 25.00 ▲ 0.04% VAMOS 2.71 ▼ 5.24% SANB11 27.08 ▼ 0.04% ASAI3 7.80 ▼ 1.14% SBSP3 27.46 ▼ 1.22% WALMEX 51.76 ▼ 0.84% GMEXICO 214.98 ▲ 0.39% FEMSA 217.35 ▼ 0.70% CEMEX 21.91 ▼ 1.97% GFNORTE 190.26 ▲ 0.46% BIMBO 57.88 ▼ 0.21% TELEVISA 10.50 ▲ 2.54% AMX 23.00 ▼ 0.56% GAP 431.59 ▲ 0.01% ASUR 301.41 ▼ 1.24% OMA 241.60 ▲ 0.32% KOF 186.67 ▲ 1.84% GRUMA 291.99 ▲ 0.39% KIMBER 37.93 ▲ 0.37% SQM-B 74,050 ▲ 0.20% COPEC 6,000 ▼ 0.47% BSANTANDER 72.71 ▼ 1.74% FALABELLA 6,052 ▼ 0.69% ENELAM 76.96 ▼ 1.33% CENCOSUD 2,110 ▼ 3.43% CMPC 1,065 ▲ 1.42% BANCO CHILE 179.00 ▼ 0.33% LATAM AIR 24.28 ▼ 0.86% YPF 76,675 ▼ 0.10% GGAL 8,365 ▲ 2.51% PAMPA 5,155 ▲ 0.88% TXAR 678.00 ▼ 0.88% ALUAR 1,001 ▲ 1.62% TGS 9,550 ▲ 1.54% CEPU 2,373 ▲ 0.04% MIRGOR 16,850 ▼ 0.59% COME 45.02 ▲ 2.60% LOMA NEGRA 3,575 ▼ 0.90% BYMA 313.75 ▲ 3.12% TELECOM ARG 4,375 ▼ 0.51% ECOPETROL 15.68 ▼ 0.73% BANCOLOMBIA 79.94 ▲ 0.87% GRUPO AVAL 5.58 ▲ 2.01% CREDICORP 386.94 ▲ 6.22% SOUTHERN COPPER 191.68 ▼ 1.47% BUENAVENTURA 34.24 ▼ 4.78% MERCADOLIBRE 1,632 ▼ 2.52% NUBANK 12.89 ▲ 1.34% XP 15.42 ▼ 1.66% PAGSEGURO 8.91 ▼ 0.78% STONE 10.77 ▼ 2.00% GLOBANT 34.61 ▼ 5.51% TECNOGLASS 45.16 ▲ 0.69% GAP AIRPORT 248.60 ▼ 0.79% ASUR 301.41 ▼ 1.24% OMA AIRPORT 111.53 ▼ 0.18% AMX ADR 26.45 ▼ 1.23% FEMSA ADR 125.56 ▼ 1.04% CEMEX ADR 12.60 ▼ 2.93% PETROBRAS ADR 16.79 ▼ 1.52% VALE ADR 15.53 ▼ 2.82% ITAU ADR 7.97 ▲ 0.25% SANTANDER BR 5.37 ▼ 0.83% AMBEV ADR 3.14 ▼ 1.88% CSN 1.12 ▼ 7.44% GERDAU 4.49 ▼ 2.92% LATAM ADR 54.54 ▼ 0.85% BTC 64,290 ▼ 2.00% ETH 1,744 ▼ 2.57% SOL 72.02 ▼ 1.90% XRP 1.19 ▼ 2.30% BNB 600.22 ▼ 0.68% ADA 0.17 ▼ 2.93% DOGE 0.09 ▼ 1.20% AVAX 6.78 ▼ 1.30% LINK 8.09 ▼ 2.17% DOT 1.00 ▼ 0.67% LTC 44.92 ▼ 1.56% BCH 211.88 ▼ 1.69% TRX 0.32 ▲ 1.12% XLM 0.22 ▲ 3.99% HBAR 0.08 ▼ 0.48% NEAR 2.26 ▼ 1.93% ATOM 1.93 ▼ 3.11% AAVE 74.08 ▼ 2.36% SELIC 14.50% EMBRAER 78.74 ▲ 3.24% EMBRAER ADR 61.31 ▲ 2.32% JBS 12.22 ▼ 0.65% JBS BDR 62.33 ▼ 0.70% MBRF3 15.50 ▼ 2.88% MBRFY 2.93 ▼ 5.18% INTER 5.56 ▼ 3.64% EGX 52,622 ▲ 1.10% USD/ZAR16.41▲ 1.32% USD/NGN1,357▼ 0.15% NIKKEI 69,902 ▲ 0.72% CSI300 4,931 ▲ 0.97% HSI 24,312 ▼ 0.74% NIFTY 24,086 ▲ 0.40% KOSPI 8,864 ▲ 1.58% JCI 6,221 ▼ 0.55% USD/JPY160.62▲ 0.10% USD/CNY6.76▲ 0.01% DAX 24,935 ▲ 0.10% CAC 8,431 ▼ 0.20% FTSE 10,509 ▲ 0.14% MIB 52,595 ▲ 0.31% IBEX 19,422 ▲ 1.35% STOXX 639.31 ▲ 0.52% EUR/USD1.15▼ 0.89% GBP/USD1.33▼ 0.95% SPX 7,420 ▼ 1.21% DJI 51,493 ▼ 0.98% NDX 29,671 ▼ 0.99% RUT 2,918 ▼ 0.72% TSX 35,125 ▼ 0.75% VIX 18.44 ▲ 12.37% USD/CAD1.41▲ 0.72% US10Y 4.4630 ▲ 0.79% IBOV 168,454 ▼ 0.70% IPSA 10,806 ▼ 0.90% IPC MEX 68,305 ▼ 0.26% MERVAL 3,291,883 ▲ 1.14% COLCAP 2,377.03 ▲ 0.25% BVL PERÚ 58,096.41 ▲ 2.66% USD/BRL 5.11 ▲ 0.36% USD/MXN 17.27 ▲ 0.43% USD/CLP 889.77 ▲ 0.38% USD/COP 3,444 ▼ 1.30% USD/PEN 3.38 ▼ 0.84% USD/ARS 1,441 ▲ 0.30% USD/UYU 40.17 ▲ 0.32% USD/PYG 6,093 ▲ 1.36% USD/BOB 6.86 ▲ 1.80% USD/DOP 58.40 ▲ 0.53% USD/CRC 450.02 ▲ 1.60% USD/GTQ 7.62 ▲ 2.23% USD/HNL 26.66 ▲ 1.32% USD/NIO 36.62 ▲ 0.68% USD/VES 595.29 ▲ 1.47% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.09 ▲ 0.26% USD/TTD 6.75 ▲ 1.27% EUR/BRL 5.87 ▼ 0.12% BRENT 78.68 ▼ 0.35% WTI 75.01 ▼ 1.37% IRON ORE 161.91 — — COPPER 6.37 ▼ 1.86% GOLD 4,278 ▼ 1.23% SILVER 67.96 ▼ 2.78% SOY 1,151 ▲ 1.81% CORN 421.25 ▲ 1.81% WHEAT 621.50 ▲ 4.28% COFFEE 272.35 ▼ 1.77% SUGAR 14.37 ▲ 3.98% ORANGE JUICE 149.50 ▲ 1.25% COTTON 79.73 ▲ 6.29% COCOA 4,204 ▲ 1.50% BEEF 249.05 ▼ 2.45% CATTLE 367.43 ▲ 0.15% LITHIUM 83.07 ▼ 0.63% PETR4 38.57 ▲ 0.08% VALE3 79.78 ▼ 2.04% ITUB4 40.80 ▲ 0.87% BBDC4 17.55 ▼ 0.62% ABEV3 16.19 ▼ 1.52% BBAS3 19.41 ▲ 0.05% B3SA3 14.61 ▼ 2.86% WEGE3 43.80 ▲ 2.26% PRIO3 56.74 ▼ 0.19% SUZB3 42.23 ▼ 1.63% RENT3 40.54 ▼ 1.03% AZZA3 16.60 ▼ 4.87% CSAN3 3.47 ▲ 6.12% RAIZ4 0.42 ▼ 2.33% PCAR3 1.68 ▼ 12.95% GMAT3 3.84 ▼ 1.79% PSSA3 51.55 ▲ 1.96% CVCB3 1.31 ▼ 2.96% POSI3 3.73 ▼ 1.58% SLCE3 13.75 ▼ 2.07% NATU3 7.83 ▼ 8.74% BRKM5 8.37 ▼ 1.06% RANI3 7.87 ▲ 0.90% CSNA3 5.63 ▼ 6.48% CMIN3 4.27 ▼ 1.84% USIM5 9.56 ▼ 5.63% GGBR4 22.81 ▼ 2.06% ENEV3 24.08 ▼ 1.47% NEOE3 33.80 — 0.00% CPFE3 43.43 ▼ 0.78% CMIG4 10.64 ▼ 0.75% EQTL3 37.09 ▼ 1.36% LREN3 14.45 ▼ 2.96% VIVT3 32.86 ▼ 2.14% RAIL3 12.45 ▼ 4.45% KLABIN 16.96 ▼ 0.59% RAIA DROGASIL 17.51 ▼ 0.91% RDOR3 33.12 ▼ 2.82% HAPV3 10.58 ▼ 5.62% FLRY3 14.69 ▼ 0.74% SMTO3 15.53 ▼ 2.76% UGPA3 24.19 ▲ 1.30% VBBR3 28.32 ▲ 1.43% BBSE3 39.30 ▲ 2.91% BPAC11 50.39 ▼ 0.61% CURY3 31.88 ▼ 2.51% AERI3 2.27 ▼ 1.73% VIVARA 20.72 ▼ 1.33% COMPASS 25.00 ▲ 0.04% VAMOS 2.71 ▼ 5.24% SANB11 27.08 ▼ 0.04% ASAI3 7.80 ▼ 1.14% SBSP3 27.46 ▼ 1.22% WALMEX 51.76 ▼ 0.84% GMEXICO 214.98 ▲ 0.39% FEMSA 217.35 ▼ 0.70% CEMEX 21.91 ▼ 1.97% GFNORTE 190.26 ▲ 0.46% BIMBO 57.88 ▼ 0.21% TELEVISA 10.50 ▲ 2.54% AMX 23.00 ▼ 0.56% GAP 431.59 ▲ 0.01% ASUR 301.41 ▼ 1.24% OMA 241.60 ▲ 0.32% KOF 186.67 ▲ 1.84% GRUMA 291.99 ▲ 0.39% KIMBER 37.93 ▲ 0.37% SQM-B 74,050 ▲ 0.20% COPEC 6,000 ▼ 0.47% BSANTANDER 72.71 ▼ 1.74% FALABELLA 6,052 ▼ 0.69% ENELAM 76.96 ▼ 1.33% CENCOSUD 2,110 ▼ 3.43% CMPC 1,065 ▲ 1.42% BANCO CHILE 179.00 ▼ 0.33% LATAM AIR 24.28 ▼ 0.86% YPF 76,675 ▼ 0.10% GGAL 8,365 ▲ 2.51% PAMPA 5,155 ▲ 0.88% TXAR 678.00 ▼ 0.88% ALUAR 1,001 ▲ 1.62% TGS 9,550 ▲ 1.54% CEPU 2,373 ▲ 0.04% MIRGOR 16,850 ▼ 0.59% COME 45.02 ▲ 2.60% LOMA NEGRA 3,575 ▼ 0.90% BYMA 313.75 ▲ 3.12% TELECOM ARG 4,375 ▼ 0.51% ECOPETROL 15.68 ▼ 0.73% BANCOLOMBIA 79.94 ▲ 0.87% GRUPO AVAL 5.58 ▲ 2.01% CREDICORP 386.94 ▲ 6.22% SOUTHERN COPPER 191.68 ▼ 1.47% BUENAVENTURA 34.24 ▼ 4.78% MERCADOLIBRE 1,632 ▼ 2.52% NUBANK 12.89 ▲ 1.34% XP 15.42 ▼ 1.66% PAGSEGURO 8.91 ▼ 0.78% STONE 10.77 ▼ 2.00% GLOBANT 34.61 ▼ 5.51% TECNOGLASS 45.16 ▲ 0.69% GAP AIRPORT 248.60 ▼ 0.79% ASUR 301.41 ▼ 1.24% OMA AIRPORT 111.53 ▼ 0.18% AMX ADR 26.45 ▼ 1.23% FEMSA ADR 125.56 ▼ 1.04% CEMEX ADR 12.60 ▼ 2.93% PETROBRAS ADR 16.79 ▼ 1.52% VALE ADR 15.53 ▼ 2.82% ITAU ADR 7.97 ▲ 0.25% SANTANDER BR 5.37 ▼ 0.83% AMBEV ADR 3.14 ▼ 1.88% CSN 1.12 ▼ 7.44% GERDAU 4.49 ▼ 2.92% LATAM ADR 54.54 ▼ 0.85% BTC 64,290 ▼ 2.00% ETH 1,744 ▼ 2.57% SOL 72.02 ▼ 1.90% XRP 1.19 ▼ 2.30% BNB 600.22 ▼ 0.68% ADA 0.17 ▼ 2.93% DOGE 0.09 ▼ 1.20% AVAX 6.78 ▼ 1.30% LINK 8.09 ▼ 2.17% DOT 1.00 ▼ 0.67% LTC 44.92 ▼ 1.56% BCH 211.88 ▼ 1.69% TRX 0.32 ▲ 1.12% XLM 0.22 ▲ 3.99% HBAR 0.08 ▼ 0.48% NEAR 2.26 ▼ 1.93% ATOM 1.93 ▼ 3.11% AAVE 74.08 ▼ 2.36% SELIC 14.50% EMBRAER 78.74 ▲ 3.24% EMBRAER ADR 61.31 ▲ 2.32% JBS 12.22 ▼ 0.65% JBS BDR 62.33 ▼ 0.70% MBRF3 15.50 ▼ 2.88% MBRFY 2.93 ▼ 5.18% INTER 5.56 ▼ 3.64% EGX 52,622 ▲ 1.10% USD/ZAR 16.40 ▲ 1.53% USD/NGN 1,357 ▲ 0.10% NIKKEI 69,902 ▲ 0.72% CSI300 4,931 ▲ 0.97% HSI 24,312 ▼ 0.74% NIFTY 24,086 ▲ 0.40% KOSPI 8,864 ▲ 1.58% JCI 6,221 ▼ 0.55% USD/JPY 160.62 ▲ 0.14% USD/CNY 6.7572 ▲ 0.02% DAX 24,935 ▲ 0.10% CAC 8,431 ▼ 0.20% FTSE 10,509 ▲ 0.14% MIB 52,595 ▲ 0.31% IBEX 19,422 ▲ 1.35% STOXX 639.31 ▲ 0.52% EUR/USD 1.1505 ▼ 0.93% GBP/USD 1.3294 ▼ 0.98% SPX 7,420 ▼ 1.21% DJI 51,493 ▼ 0.98% NDX 29,671 ▼ 0.99% RUT 2,918 ▼ 0.72% TSX 35,125 ▼ 0.75% VIX 18.44 ▲ 12.37% USD/CAD 1.4092 ▲ 0.74% US10Y 4.4630 ▲ 0.79%
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Wednesday, June 17, 2026

The World Is Pulling Back on Cannabis. Brazil Just Doubled Down

By · February 8, 2026 · 2 min read

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Key Points
Brazil just approved domestic cannabis cultivation for medical use, unlocking a market nearing R$1 billion — while two major international studies say the science behind most cannabis therapies is weak or nonexistent.
Nearly a third of medical cannabis users develop dependency, and high-potency products double the risk of heart disease, according to a review of 2,500 studies published in JAMA.
Oregon, Amsterdam, and Thailand have all reversed cannabis liberalization in the past two years — raising the question of whether Brazil is arriving late to a party the world is already leaving.

On January 28, Brazil’s health regulator Anvisa voted unanimously to let companies grow cannabis on Brazilian soil for the first time. The decision could reshape Latin America’s largest pharmaceutical market. This is part of The Rio Times’ daily coverage of Brazil affairs and Latin American financial news.

The problem: two of the world’s most respected medical journals just published evidence suggesting the product may not work the way millions believe.

The rules permit cultivation with up to 0.3% THC, allow cannabidiol in compounding pharmacies, and create a trial program for patient groups.

The sector hit R$971 ($183) million last year, 670,000 Brazilians use cannabis products, and over 660,000 import permits were filed in a decade. Advocates celebrated: domestic production means lower prices.

The World Is Pulling Back on Cannabis. Brazil Just Doubled Down
The World Is Pulling Back on Cannabis. Brazil Just Doubled Down
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The World Is Pulling Back on Cannabis. Brazil Just Doubled Down

Then there is the science. A Cochrane review published this January — 21 trials, 2,100 patients — found no solid evidence cannabis relieves nerve pain better than placebo. A JAMA review of 2,500 studies went further: evidence is insufficient for chronic pain, anxiety, and insomnia.

Proven uses are narrow: chemotherapy nausea, HIV appetite loss, rare childhood epilepsy. The JAMA data also showed 29% of medical users developed dependency, 12.4% on high-potency products experienced psychotic symptoms, and daily inhalation doubled heart disease risk.

Psychiatrist Ronaldo Laranjeira of Unifesp called the regulation “a bizarrice” driven by industry lobbying. Cannabis prevalence surged from 3% to over 15% of Brazilians, and THC potency has risen from 1% to 20% over four decades in Canada. The Brazilian Psychiatric Association is blunt: “medical marijuana does not exist.”

What makes this globally significant is timing. Oregon recriminalized drugs in 2024 after overdose deaths spiked 1,500%. Amsterdam banned public cannabis smoking.

Thailand dismantled 11,000 dispensaries in 2025, three years after decriminalizing. Brazil is betting it can succeed where others stumbled. The answer depends on evidence the science has not delivered.

Related coverage: Brazil’s Morning Call | Brazil Bets Against Washington: Why Lula Rejected Trump’s Cr

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