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'Diamond In The Rough' Of Latin American Cannabis: Puerto Rico's Success Secret Explained

Article via El Planteo

"Puerto Rico is a paradise for a cannabis entrepreneur," says Jaime Rengifo, CEO of Prich Biotech, often regarded as the largest cannabis company in Latin America. Since his arrival on the island, Rengifo has closely observed how this relatively small region has become a Latin American leader in medicinal cannabis, with a local market now surpassing $250 million annually. For Rengifo, however, success isn't just about numbers, it's about the model, education and accessibility that have fostered sustained growth and elevated product quality.

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Rengifo attributes Puerto Rico's progress in medicinal cannabis to a functional regulatory system that allows patients to acquire medical marijuana from dispensaries located throughout the island. "People have access, patients can access products, in various formulations, various formats," he explains, referring to the range of consumption options available in Puerto Rico, which includes capsules, concentrates, edibles, oils and even transdermal patches. While smoking cannabis is prohibited, the law allows for vaping, an adjustment he believes has attracted a broader, more responsible consumer base.