EXCLUSIVE - Mexico Issues Hemp Cultivation Permit To National Company To Import & Export For Industrial Purposes

In a significant step towards the regulation of hemp in Mexico, the Federal Commission for Protection against Sanitary Risks (COFEPRIS) has authorized Semillas Endémicas Mexicanna S.A. de C.V. to import, plant, cultivate and harvest cannabis sativa (hemp) for industrial purposes. According to exclusive information obtained by El Planteo, this permit sets an important precedent in the industry, ensuring that the tetrahydrocannabinol (THC) content is below 1%.

Regulation And Conditions

The official document acquired by El Planteo, dated November 17, 2023 but delivered to the company just a few days ago, details the conditions under which Semillas Endémicas Mexicanna can operate. The permit includes the importation of seeds, the processing of hemp for the extraction of cannabidiol (CBD) and the commercialization of cannabidiol oil as long as the THC content in the plants does not exceed 1%. COFEPRIS emphasizes that "the requested sanitary authorization must ensure that the plant produces concentrations equal to or less than 1% THC and under the conditions of monitoring, control and security that the competent authority deems appropriate to protect health and public order."

Additional Requirements For Hemp Cultivation In Mexico

To comply with regulations, the company must present a certificate of analysis issued by a competent authority or an authorized laboratory, confirming that the THC content meets the permitted limit. Additionally, in the case of importing products, these must comply with the applicable provisions for foreign products. COFEPRIS clarifies that it currently cannot evaluate the conditions for hemp planting due to the absence of specific regulations for this activity. "The absence of regulations impacting the seed itself, within its sphere of competence, makes it impossible to evaluate the conditions that would allow hemp planting," the document highlights.

Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.

Implications For The Industry

This development is an important step for the hemp industry in Mexico, aligning with Article 245 of the General Health Law, which allows the commercialization, export and import of products with less than 1% THC, as long as established sanitary requirements are met. The authorization is not an unlimited green light, as COFEPRIS emphasizes that "the referred protection does not translate into a free and unrestricted authorization that allows non-compliance with various applicable regulations."

The Future of Hemp in Mexico

With this authorization, Semillas Endémicas Mexicanna S.A. de C.V. has the opportunity to lead in the production and processing of industrial hemp in Mexico. This could drive new investments and opportunities in the sector, fostering a more regulated and safer market for hemp products. However, the industry still faces significant challenges, including the need to establish clear and specific regulations that govern all stages of the process, from planting to commercialization. This COFEPRIS permit represents a crucial advancement for the hemp industry in Mexico, opening new possibilities for its industrial and commercial development. With a focus on control and safety, this measure could lay the foundation for a more structured and regulated market, benefiting both producers and consumers.

Cover: AI

Original publication: El Planteo

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsExclusivesMarketsHempMexicoMexico CannabisMexico Hemp
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.