HEMP flower for sale in Peru

HEMP flower for sale in Peru


Ref:https://www.bizlatinhub.com/perus-cannabis-legalization-investment-opportunities/


According to  Energias Market Research  – a provider of in-depth market analysis – cannabis is
on the rise with an expected global growth rate of 19.1% from 2018 to 2024. In numbers, it will
significantly increase, from US$ 8.28 billion in 2017 to US$ 28.07 billion in 2024. This is driven
by several factors, including global recognition of the medical benefits (where research has
shown medicinal purposes of cannabis can offer medical solutions for patients with epilepsy and
multiple sclerosis) and an increased social acceptance of the infamous plant.


In the United States, there are already 28 states which have approved the use of cannabis for
medical purposes. In the same vein, Canada also recently changed its laws on cannabis.

Recently in Peru, there have been discussions regarding changes in legislation relating to this
sector, potentially unlocking exciting opportunities for North American and European cannabis
companies, entrepreneurs, and experts, looking to take advantage of an ideal cultivation climate
and economic labour costs.

National Cannabis Debate in Peru


The international debate on legalizing medicinal cannabis has been an interesting and
passionate one. Politicians have paid increasing attention to the legalization of cannabis with a
medicinal purpose. In February 2017, approximately 5 kilograms of marijuana were seized from
an illegal laboratory that was to be converted into medicinal oil offered to over 60 patients. From
that moment onwards, the ‘Buscando Esperanza Association’ (Seeking Hope) began recording
data of sick people who use cannabis treatments in Peru.

As a result, on September 18, 2017, the country’s congress approved by majority a draft law
to regulate the use of the plant for medicinal purposes. Nevertheless, the law had still not taken
effect.

The Cannabis Law No. 30681


On February 23th 2019, the government approved the regulation of Law No. 30681 that
regulates the medicinal and therapeutic use of Cannabis and its derivatives.

 

On February 23th 2019, the government approved the regulation of Law No. 30681 that
regulates the medicinal and therapeutic use of Cannabis and its derivatives. Its purpose is to
regulate the legal use, address provisions, encourage research, and provide a strict framework
for products intended solely for medicinal and therapeutic purposes.

Through Supreme Decree, new regulation guarantees access to Cannabis to respond to the
need to protect the health of almost 6,700 people, who require it to improve and alleviate health
problems.


A research and breeding licence is issued only if the applicant holds a general licence and is an
additional $153.33 including GST. It allows for the cultivation and processing of approved and
non-approved varieties.


See below some fundamental elements of the new law:

The state guarantees access to cannabis and its derivatives for medical and therapeutic
purposes and promotes its rational use.

The Directorate General of Medicines, Supplies and Drugs (DIGEMID) grants production
licenses, import licenses and the marketing, and control of pharmaceutical facilities.

Licenses are granted to natural or legal persons operating as pharmaceutical institutions,
universities, and research organizations. 

The period of validity of the licenses is indefinite.


The license gives the right to do research, production, to import, commercialize cannabis for
medicinal purposes and its derivatives solely for medical and therapeutic purposes.

License to Cultivate and Commercialize


The license for the importation and/or commercialization of cannabis for medicinal use and its
derivatives for medicinal and therapeutic purposes is granted to natural or legal persons
constituted as an authorized pharmaceutical establishment and certified by the DIGEMID upon
compliance with the conditions established in the regulation.


A production license empowers the following activities: acquisition of seeds and/or seedlings of
cannabis, planting, propagation, cultivation, harvest and post-harvest, and manufacture of
products derived from Cannabis, as well as storage and transport activities regarding Cannabis
for medical use. There are three types of production licenses granted by the DIGEMID:


Production license that allows for the cultivation of cannabis plants.

Production license that does not include cultivation (exempted from an Agricultural Production
Plan, certification of genetic material used, and a Safety Protocol approved by MININTER for
cultivation).


Production license that includes seed production.

Investment Opportunities in the Peruvian Cannabis Sector


The vast amount of commercial success in the Colombian Cannabis Sector illustrates how
experienced companies and newcomers are benefiting from global demand for cannabis
products. By potentially enacting new legislation, allowing for the therapeutic use of cannabis,
the Peruvian government has paved a new road that entails new investment opportunities in the
Peruvian Cannabis sector.  In addition to Peru, Canada joins a number of countries with
changed laws on cannabis. Consequently, for Canadian and American companies, among
others, it is the perfect time to consider investing in the Cannabis sector in Peru.


Luiz Novaes, general manager of Spectrum Cannabis, a subsidiary of Canada’s Canopy Growth
which produces and distributes cannabis, congratulated the Government’s decision. “Peru has
assumed a leadership role with the introduction of these regulations’’.


This will significantly increase imports made directly from Canada. Also, direct investments in
Peru could, on the one hand, favour the availability of cannabis products, and on the other
hand, create new beneficial opportunities for medical cannabis suppliers in Peru.


Tony Salas, president of the agribusiness consultancy ACM, states that Peru has a lot to offer
the global cannabis market. Additionally, ACM estimates that crops could generate income of
US$1 million per hectare and in five years, 3,000 hectares of cannabis could be grown in Peru,
mainly in the coastal area. For this reason, cannabis giants have been exploring the Peruvian
cannabis market since the draft of the cannabis legislation 2 years ago.


An important note is that the production of cannabis will be limited to public entities and
laboratories that are ‘duly authorized’.  While local cannabis cultivation will help care for around
10,000 patients in Peru (with a lower price), this business will mainly focus on exports, due to
increased demand from abroad, mainly North America and Europe. It is therefore why different
types of investors (foreign business, local investors in the pharmacy sector, agro-exporter
entrepreneurs etc.) will likely become involved in the sector within the upcoming years, pending
the implementation of legislation.

Next Steps


Home to a tremendous climate, Peru is a perfect fit for agricultural business. Where Peru
already shows its extensive experience in agricultural products such as Super Foods, it will
soon offer even more opportunities thanks to the recent legislative changes relating to medicinal
cannabis.


Ref: https://mjbizdaily.com/peru-lays-groundwork-for-commercial-medical-cannabis-production-
sales/


More than one year after Peru legalized medical cannabis, the South American country
published a regulatory decree providing clarity about how the program will work, including
possible cultivation and manufacture of high-THC cannabis by private companies.


Details on the breadth of commercial activity that will be allowed remain vague, however.

The decree, published Saturday, estimates that a “minimum of 7,596” patients in Peru are in
urgent need of access to medical marijuana and notes that “sufficient scientific evidence” exists
for its use for several medical conditions, including:


Chronic neuropathic pain.

Chemotherapy-induced nausea and vomiting.

Multiple sclerosis spasticity.

Pediatric refractory epilepsy.

Read the full regulations here.


Government agencies have 60-90 working days to publish their internal regulations and
procedures for the program. These could clarify aspects of the framework that still remain fuzzy:


Exports are explicitly mentioned in Article 15 “Comercialización,” but both types of commercial
licenses – wholesale and retail – require a sworn statement that sales will be exclusive to
pharmacies or registered patients respectively.”


Unlike Colombian legislation that explicitly prohibits the sale of flowers to patients, the Peruvian
regulation doesn’t. While the product definitions suggest that only derivatives will be allowed,
the decree creates confusion by repeating “cannabis and its derivatives” throughout the
document.


Hemp won’t require the licenses of high-THC cannabis, and neither the plant nor its derivatives
would be subject to narcotics control, but it remains to be seen how it will be regulated.

What the decree establishes


“Peru has the most modern and competitive regulation on medical cannabis,” Tony Salas,
president of ACM Peru, an agribusiness consultancy, told Marijuana Business Daily.


This is “the inception of a world leader of this expanding industry with tremendous potential
growth and prosperity – measured not only in terms of economic dynamics but in social and
health impact as well,” he said.


As in Uruguay and Colombia, the decree uses the 1% THC limit to distinguish between
“psychoactive” and “nonpsychoactive” cannabis.


The decree specifically identifies that “nonpsychoactive” cannabis – also called “cáñamo” or
“hemp” within the document – and its derivatives are not “controlled substances,” so research,
production, importation and commercialization won’t require licenses or the same level of the
governmental oversight mandatory for “psychoactive cannabis.”


Four types of medicinal cannabis products are defined, ranging from pharmaceutical cannabis
derivatives that demonstrate efficacy, safety and quality, to magistral preparations handled by a
pharmaceutical chemist or someone under his/her direction in a pharmacy for individual
patients.


Patients must register in a national registry of medical cannabis users and are required to
present a special prescription to access cannabis containing THC.

Any advertising or promotion is prohibited.

Different types of permits


Several government agencies of the Ministry of Health and the Ministry of Agriculture are in
charge of implementing the framework, which establishes several license types:


Research: Only universities or health research institutions may apply. It includes agricultural
scientific research and health research with and without human subjects.


Wholesale import and commercialization: Only registered pharmaceutical companies may
apply. Among other requirements, Good Manufacturing Practices or Good Distribution Practices
are required. Only allows sales to pharmacies.


Retail commercialization: Only pharmacies and similar authorized establishments may apply.
Only sales to registered cannabis patients. Delivery or online sales aren’t allowed.


Production: Only public institutions and registered pharmaceutical laboratories may apply. The
production license spans from seed to derivatives production, but it may or may not include
cultivation. Depending on the category applied for, several documents are needed, which could
include an agricultural production plan, a manufacturing plan and a security protocol.


People with criminal records related to drug trafficking are barred from participating in the
industry as legal representatives of companies, as well as security and operational personnel.


Because of better natural conditions to grow cannabis compared to the Northern Hemisphere, it
is expected that growing marijuana in Latin America will be significantly cheaper – an attractive
proposition for several international cannabis companies that are already setting up production
centers throughout the region.


In January, Canopy Growth announced the opening of a Peruvian entity.
As of today, Latin America remains a net importer of medical cannabis. The only high-
THC exports so far have been for analytical purposes.