Colombia is promoting a significant increase in cannabis exports

The marijuana trade is thriving in Colombia. The South American country announced last month that its cannabis exports increased by 96% between November 2022 and January.

“Thanks to the sale of 13 companies from five divisions in 14 countries, the amount was $8.4 million. Argentina, Brazil, Australia, Switzerland, Israel, the United States and Germany were the main buyers,” said ProColombia, a government agency that monitors exports and tourism, in an analysis released Jan. 26.

Carmen Caballero, President of ProColombia, said that “58% of these exports were destined for Latin America and the Caribbean”.

“It is a sector that has significant potential for creating quality jobs, especially for women, in different regions of the country. Likewise, value-added cannabis products have stood out for their quality and innovation,” said Caballero.

The agency said the $8.4 million worth of exports came from the following regions of Colombia: Bogotá (48%), Cundinamarca (30%), Antioquia (12%), Santander (8%) and Magdalena (2%). ).

In addition, ProColombia noted that “nine of the 51 participating companies are located in eight communities [Nemocón, Cajicá, Rionegro, Ubaté, Pitalito, Mosquera, Tocancipá and Pasca] with less than 200,000 inhabitants, which is part of the government’s strategy to generate development by strengthening the business structure in the regions.”

“Similarly, last year more than 90% of Colombian cannabis exports came from the departments of Bogotá, Cundinamarca and Antioquia; However, 12 departments have been identified (Antioquia – Bolívar – Boyacá – Cauca – Cundinamarca – Huila – Magdalena – Meta – Risaralda – Santander – Tolima – Valle del Cauca) with high export potential for this type of product,” says the analysis.

The cannabis was produced by 13 countries, according to ProColombia, with total exports reaching 14 countries including: Argentina (40%), Brazil (14%), Australia (12%), Switzerland (7%), Israel (6.5%) ), the United States (6%) and Germany (5.5%).

According to the agency, the “commodities most in demand abroad were extracts, medicines and seeds.”

“It is worth noting that in November 2022 the second round table on the business of medicinal and industrial cannabis was held, organized by the Ministry of Commerce, Industry and Tourism and ProColombia with the support of Asocolcanna. The meeting held 250 business meetings with 21 international buyers from 10 countries and 51 small and medium-sized companies with a Colombian offering ranging from extracts to finished pharmaceutical or cosmetic products,” the agency said last month.

With its warm and hospitable climate, Colombia is optimistic about the long-term prospects of its cannabis cultivation.

“The country has a stable regulatory framework and is one of the most complete internationally, encompassing actions ranging from seed, cultivation, transformation, value creation and safe access for patients,” the agency said in last month’s analysis, noting that the “ecological and geographical conditions of Colombia allow 4 harvests per year in three different cultivation modalities (open sky, open sky with semi-automatic irrigation and indoor with light and irrigation)” and that “the geographical position of the country allows 12 hours of sunshine on 365 days per year, maximizing crop yields and reducing production costs.”

“Likewise, it is an industry that enables the scientific and technological development of Colombia, intense in R+D+i, which allows the development of research centers,” added ProColombia. “It is also added that Colombia has a wide range of products: seeds, raw extracts, distillates, isolates, finished products such as phytotherapeutics and cosmetics. All of this while maintaining high quality standards that enable integration into global value chains.”

In December, members of the Colombian Senate passed an amendment legalizing cannabis.