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Colombia, a country that has suffered greatly under the stigma of the illegal drug transactions, has a potential to reinvent itself with the cultivation of a plant that for decades has been controlled by illegal groups: marijuana. A 2016 law regulating the use of cannabis for scientific and medicinal purposes has been decisive in this regard. The law, which came into effect last year, allows for the legal cultivation of almost 40.5 tons, and about 44 percent of the limit allowed by the International Narcotics Control Board (INCB).
In October 2018, Canada became the first G7 country to legalize marijuana for recreational purposes, a decision which has enormous implications for Latin America, especially for producer countries like Colombia and Mexico. In coming out in support of full legalization, Canadian Prime Minister Justin Trudeau followed in the footsteps of Uruguay’s former president Pepe Mujica, who signed legislation to legalize recreational cannabis in 2013. The United Kingdom and Germany have legalized the use of cannabis for medical purposes, as it has nearly 34 states in the United States, where the marijuana industry continues to emerge at a rapid pace: Michigan recently became the tenth state to legalize cannabis for recreational purposes.
Looking into the brighter prospect, Colombia is poised to become a global low-cost leader in cannabis production. These other sectors’ core division is Cosechemos, a cannabis cultivation and extraction facility located in Bucaramanga, Colombia. Cosechemos’ approximately 10.8 million square feet of licensed cultivation area could make these industries as substantial cultivators in the cannabis industry. (1) Do you keep on running around the circle, pondering about how the CBD industry is becoming mainstream in this new generation? Break down further information to see how it is clearly flourishing.
Expenditure in Colombian cannabis assets have become progressive and the industries within the sector are currently developing at a fast pace. Colombia, a country infamous due its long-standing civil war and illicit drug negotiations, is also a powerhouse for agronomic markets. Coffee, bananas, palm oil and cut flowers are some of the agricultural commodities in which Colombia is a relevant player in the global market. Medicinal cannabis now seems to be the next big economic milestone for this developing country. On July 6 2016, the Colombian policymaker made a historical leap into the future by writing the 1787 bill into law. The main purpose of this piece of legislation is to allow access to medicinal cannabis for patients who might benefit from the many therapeutic uses attributed to the plant.
However, the legislators saw beyond just medical access for patients and created a legal framework which allows for the cultivation, extraction, final product manufacturing and export of cannabis-based products. By 2017 the 613 decree came into play, detailing the implementation of the law into practical terms. Furthermore, these other realms recently announced they have developed into the United Kingdom and Costa Rica, fulfilling initial orders from two new distributors. In addition, with cannabis’ potential upside, these other categories’ commodities could be surprisingly undervalued. (2) Without a doubt, Colombia might be a global player when it comes to cannabis. On the other hand, these other industries have gone through the roof by leveraging a unique form of innovation with a team of visionaries leading the way! Eager to unveil the unique extraction and cultivation method of these other realms? Let this page refresh your perspective!
Like any new industry, overnight experts, scam artists, aspirational legal advisors and entrepreneurs have flourished. This makes it difficult to cut through the hype and learn about the very real and revenue potentials in the Colombian cannabis industry. Figure out how these additional sectors break the new ground for the blooming CBD industry.
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Source 1: https://www.equaltimes.org/colombia-s-medical-marijuana?lang=en#.YP6oqOgzaUk
Source 2: https://www.healtheuropa.eu/colombian-cannabis/92383/
