Beau Whitney Highlights Individualized Cannabis Medicine Solutions For Patients In Peru

Beau Whitney attended the inaugural Andean Hemp and Cannabis Trade Summit October 17–18 where he presented on the Central and South American hemp and cannabis markets and gave insights specific to the Peruvian market. The conference was held in Lima, Peru, and was hosted by Jill Reddish and Chris Day from the Global Cannabis Network Collective (GCNC). The GCNC is a private network of international executives dedicated to fostering innovation, growth, and sustainability within the global cannabis industry. The level of thought leadership at this event was exceptionally high.

While small by comparison, the South American cannabis and hemp markets are not only positioning themselves to be a strong regional player inside the Southern Common Market (MERCOSUR), but also are laying the groundwork to become suppliers into the EU as well. South America is also positioned to eventually supply the U.S. by leveraging their competitive advantages with labor and low-cost inputs. This could happen as early as when rescheduling occurs.

In terms of data:

• Central and South America together are an $8 billion total market; however, its low-cost manufacturing and drive towards EU GMP and GAP certifications is making the region an attractive source of supply for the EU.
• Five countries make up 89% of the regional demand, with Brazil the largest domestic market ($2.5 billion).
• The total Central and South American market demand would require 6.3 million pounds of cultivated output.
• Peru is an estimated $0.8 – $2.2 billion domestic market, but its market is currently in its legal infancy as a medical only market.
• Hemp in Peru (and in greater South America) has strong opportunities, primarily in fibers and grains, but also cannabinoids.

A group of attendees were also invited to tour two medical dispensary facilities in Lima. These tours were extremely compelling. Both dispensaries were licensed by the federal government and had registered patients and doctors. There are roughly 50,000 medical patients registered in Peru.

Prescriptions are all currently oil based (vapes, edibles, etc.), although flower may be prescribed sometime in 2025 (pending federal approvals). Each medical prescription was crafted and formulated specifically for the individualized requirements of each patient. We feel that this level of individualized medical care will become the standard for many other countries.

While small relative to the U.S. or even to some states, the Peruvian medical market had elements that were much more pragmatic and sophisticated than in many U.S. markets. It shows that when there are strong partnerships between federal policy makers, regulators and operators, reasonable policies can be deployed and generate positive results for operators and patients alike.