Brazil Hit 1 Million Patients — And How LATAM Cannabis Market Changed

👉 Finance professionals looking to get into cannabis accounting, check out our free training here: https://go.dopecfo.com/specialized-cf... &utm_content=money+is+going+next 👉 Cannabis business owners looking for specialized accounting solutions, check out DOPE CFO here: https://www.dopecfo.us/ In this episode of the Cannabis Accounting Podcast, host Raymond Guns sits down with @marianalarrea.mlaw (Mariana Larrea), founder of MLA Legal and Consulting Boutique and STIGMA Hospitality Group, to map the global cannabis supply chain and explain why Mexico, with the most complete pharmaceutical-grade legal framework of any country, is still waiting for its market to move. Mariana has spent a decade at the intersection of international pharmaceutical law and cannabis regulation. She was part of the first citizen bill team to draft the federal cannabis law proposal for Mexico's Senate and Congress. She left Big Law to build a firm where every client gets direct involvement from the attorney who knows their business. She's been speaking internationally on cannabis markets for four years, from Germany to Iceland to Toronto. Mariana breaks down: 🌍 Why Mexico's full legal framework still hasn't unlocked investment: Mexico rescheduled cannabis in 2017 and established a complete pharmaceutical-grade medical framework in 2021, one of the only countries in the world to do so. The reason the market hasn't followed: Mexico doesn't develop pharmaceutical technology. Germany, Israel, and Switzerland do. The U.S. holds the brands and the capital. Until those three move together, the infrastructure sits unused. 📈 Brazil's 1 million patient milestone: A year ago, Brazil had 400,000 registered cannabis patients through medical associations. Today: over one million. That growth drove three major regulatory updates, opening access to topicals, suppositories, oils, and expanded manufacturing and clinical research licenses. It happened because Brazil put the patient at the center, not the sanitary registry. 💰 Mexico's production cost advantage: Mexico can undercut most global cannabis production costs by roughly 80%. For clinical research: 50 to 70% cheaper. The land, labor, climate, and regulatory equivalence with the European Medicines Agency are already there. What needs to happen next to convert that advantage into real investment is exactly what Mariana lays out. ⚖️ The LATAM opportunity map, country by country: Colombia opened the first medical flower pharmacies for domestic patients in late 2025. Costa Rica completed its first medical flower export to Germany. Uruguay integrated CBD into its national healthcare system. Peru is focused on hemp. Chile is pushing on the advocacy and consumer side. This is a current-state breakdown of where each market actually sits. 🔬 Magistral compounding as a near-term model: Personalized cannabis medicine — a pharmacist compounding a specific CBD/THC tincture to a physician's prescription — is legal in Mexico right now and a viable path to reach palliative and geriatric patients. Mariana is actively helping clients build these labs and walks through what the business case looks like. 🚚 How to vet partners when expanding internationally: The signal to follow isn't regulation. It's patients and consumers. Mariana shares her framework for advising clients on which market to enter and how to structure distribution partnerships where the legal and practical reality don't always match. 📊 What U.S. Schedule III rescheduling means for the rest of the world: The international cannabis community reads rescheduling as a medical signal, not adult use, not federal legalization. Mariana breaks down how export licenses will likely operate state by state, why the money will follow U.S. brands internationally, and why partnering with Canadian operators may be the fastest route to the European market. Mariana's parting insight: trends don't prove a market, but they challenge it. After a decade inside the legal frameworks, drafting the laws and watching country after country find their footing in global cannabis, that read is earned. This episode maps where the real opportunity sits and who's positioned to meet it. Subscribe for deep dives on cannabis business, accounting, regs, and growth! 🔥 👉 Connect with Mariana Larrea:   / mariana-l-8b7043140