Brazil: Brazil's Initial Hemp Report
Link to report:
In August 2020, Brazilian lawmakers submitted to Congress a draft bill allowing Brazilian farmers to grow Cannabis for medical and industrial purposes. The bill replaces the original draft bill from 2015, PL 399/2015, which only authorized the trading of medication made from Cannabis. With a number of regulatory hurdles still pending, the earliest that the bill could become law is first half of 2021. In Brazil, it is estimated that the potential market could reach up to R$ 4.7 billion (about US$900 million). Brazil imported US$ 90.4 million of cannabidiol (CBD) from 2010 to August 2020, with the United States responsible for 14 percent of the total (US$ 12.7 million). In 2019, the United States had its best export performance, exporting US$ 2.6 million CBD to Brazil and accounting for 22 percent of the total.
