Jun 30, 2016 9:10 AM

Uruguay Will Sell Marijuana for $1 Per Gram

The first legal crop of marijuana is now harvested by two companies licensed to cultivate national cannabis in Uruguay. The country is going to sell this cannabis harvest for about $1 per gram through licensed pharmacies in South America.

SIMbiosys and International Cannabis Corp have reported reaping 300 grams each from all marijuana plants grown in indoor and greenhouse facilities. The Institute for the Regulation and Control of Cannabis (IRCCA) has carefully overseen the growing of legal cannabis planted in February and its harvesting on the outskirts of Montevideo.

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The companies expect to complete the further cultivation process, which consists of drying, manicuring, and packing, and deliver marijuana to pharmacies by August. Legal marijuana will be packed in 5 mg and 10 mg packages and sold to Uruguayans at 50 licensed pharmacies. Cannabis stock at the drugstores will be monitored and renewed every 15 days.

The country sets the price of cannabis at $1.20 per gram and limits the registered patient purchases at up to 40 mg of cannabis per month. Only the Uruguayans with the government permission have legal access to cannabis, while tourists and non-residents are barred from buying marijuana in the country. However, there is still no specific medical cannabis legislation in the country, but the Uruguay Medical Union is now working on the rules that would regulate the medical use of cannabis.

Besides the Montevideo licensed dispensaries, there are also 3,000 personal growers and 15 cannabis clubs registered in the country's legal cannabis program. No cannabis advertising or branding is permitted in the country, but marijuana clubs will be allowed to cultivate up to 99 weed plants and distribute 40 grams of cannabis per month to up to 45 members.

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