Chile initially decriminalized home-grown cannabis back in 2005 and in 2015, the government approved an application from non-profit health organization Fundacion Daya for cannabis cultivation for medical purposes.
However, selling the plant or its derivatives such as the buds, CBD extracts or oils is illegal.
Nevertheless, consumer acceptance is high and the country has one of the highest consumption rates in the region, Milenkovic said.
According to a study published in 2017 in the International Journal of Drug Policy, Chileans and Uruguayans were most likely to support drug policy reform.
Chile is also one of the biggest raw hemp producers in the LATAM region, and has several joint ventures with international players.
Canadian company Canopy Growth, for instance, operates in Chile through Spectrum Cannabis Chile. “The Chilean market, like many around the world, is emerging in response to patient needs [...] and Chile [is] renowned for its R&D and research ecosystems,” it said.