I think you understand "light green pot". It means pale green marijuana.
"Chili gut country" is a tough one. Chili is short for "chile con carne", a popular American dish based on Mexican flavours. Although the Spanish name literally means peppers with meat, the dish is usually prepared with a lot of beans and not very much meat.
So my speculation is that chili gut country means impoverished rural areas where many people are too poor to afford meat and must rely on beans for their protein. I think the implication is that exceptionally good weed can be grown in such areas because they are remote and thinly policed.