Argentina Creates a National Agency for Cannabis

1.4 min readPublished On: February 9th, 2023By

Argentina’s cannabis industry has been rapidly growing in recent months, leading the way for other markets. In April 2022, the Ministry of Health issued new rules on medical cannabis, which allowed non-profits to apply for licenses. The same month, a measure was passed to create a framework for a strong medical cannabis industry, including provisions for boosting exports globally.

In July 2022, Argentina’s Supreme Court made a landmark ruling, providing legal protection for home cultivation of medical cannabis by patients. The nation’s first domestic medical cannabis production license was issued in October 2022.

In the same month, the government created a public company to provide seeds, testing, and training to the emerging industry. Now, the government has taken it one step further and created the Regulatory Agency for the Hemp Industry and Medicinal Cannabis (ARICCAME) to oversee and help the industry reach its full potential.

The regulatory decree was signed by Juan Manzur, Chief of Staff, and Sergio Tomás Massa, Minister of Economy, announcing the creation of ARICCAME and the appointment of its authorities. The agency will be headed by the current mayor of Castelli, Francisco Echarren, and vice-president will be Dr. Marcelo Morante, a long-time advocate for the cannabis cause.

Argentina seems to have its sights set on cannabis exports, with several leaders expressing a strong desire to make the country a top international supplier of medical cannabis products. However, with other countries already exporting these products, Argentina has some catching up to do. It remains to be seen if the country will achieve its goal of becoming a major player in the cannabis export market, but its rapid progress in recent months is commendable.

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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