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Blog del Narco: IF Tuesday Election Legalizes Pot in Few States -Cartels To Loose 30% Revenue
Photo: Marijuana growth in Mexico
The legalization of marijuana in some states in the U.S. would affect significantly the Mexican Cartel drug revenues, implying the largest financial shock in decades, reports the Mexican Institute for Competitiveness (IMCO).
The UN Security Director, Alejandro Hope, estimated at a press conference that revenues would potentially fall 20 to 30% from drug trafficking, although the Sinaloa cartel, which would be the most affected, would lose up to 50%, he said.
In his opinion, “this would be favorable to Mexico, in the sense that it would be the biggest financial blow that cartels have seen in decades.”
On 6 November, the states of Washington, Colorado and Oregon, in the United States, will offer its voters a series of initiatives that, if passed, would legalize the possession, production, distribution and sale of marijuana for recreational use.
The manager explained that if these measures are approved, we must await the reactions of the U.S. government, because in the rest of the states possession will remain an illegal activity.
However, he stressed that if the initiative passes and is implemented as proposed, this would create a legal market for cannabis, which in turn displaces the product placed by drug trafficking.
He said the marijuana that would occur in the United States would be of higher quality because it has a high content of tetrahydrocannabinol (THC) is the main psychoactive component of the drug.
In response, the Mexican government considered that it would launch alternative development programs in production areas, and monitor the traffic potential in reverse, ie, from the U.S. to Mexico.
Read more in Spanish at Blog del Narco.