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Weeks From Selling Pot, Uruguay Producer Sees Future in Hemp

  • Recreational marijuana’s future limited by government rules
  • International Cannabis Corp. makes bet on hemp export market
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Source: Getty Images
Updated on

For all the buzz it’s generating, legalized pot may not live up to the hype. At least not in Uruguay where limits on production and pricing is leading one of two producers to diversify into less regulated hemp.

Weeks before selling its first ounce of pot at pharmacies, International Cannabis Corp. is already betting that hemp - a variety of cannabis - will be a much bigger market than selling the psychoactive part of the plant, according to Chief Executive Officer Guillermo Delmonte. Hemp and its extracts can be used in food, cosmetics and medicine.