Colombia Legalizes Medical Marijuana For Local Use And Export, Is This A Game Changer?

Colombia is becoming a major exporter of medicinal cannabis in the Latin American region, and this is inspiring news for the global cannabis community. Colombian President Ivan Duque issued the decree on July 23 that effectively lifts the ban on the distribution of dried cannabis flowers outside the country’s coasts.

This deal renewed investor confidence in the cannabis sector in Colombia as the country moves into the league of big high-income cannabis companies. President Duque claims that Colombia wants to be at the forefront of the regulatory process in Latin America.

The focus is of course on dominating the Latin American and Caribbean markets and building up from there. The country is also opening up to much more in cosmetics, food, textiles, and cannabis-based beverages.

In addition, Colombia has also approved the 2016 legislation regulating the production, distribution and sale of all export seeds, cannabis products and currently.

However, the country had banned the export of cannabis flowers; they feared the move would allow legal cannabis to enter the black market.

Decree 811 of Colombia

Decree 811 of 2021 changes the laws focusing on the regulation of medical cannabis. Justice Minister, Minister Wilson Ruiz, said this new law will allow manufacturers to create extracts, oils, textiles or foods containing non-psychoactive cannabis. The country’s non-psychoactive cannabis is equivalent to hemp as long as the product has a biomass of less than 1% THC.

Growing cannabis flowers is an exciting concept because growing an equatorial climate allows for five times the annual marijuana harvest. Such a cannabis growing process is also associated with low labor costs, which means that the finished dried buds will compete cheaply in the world market.

In America, the cost of growing medical marijuana is between 50 cents and one dollar per gram, but in Colombia it is five cents per gram; This is an incredibly mixed market. However, the new decree will close the cost gap as legalizing the cultivation of cannabis flowers will give more people access to the market.

Instead of relying on the black market, Colombians will have a stable legal market with increasing cultivation performance. The new decree replaces an existing Grade 613 and provides permission to export dried flowers for medical and scientific purposes.

The decree provides for measures to encourage the production of domestic marijuana-based products such as food and beverages. It also came after months of lobbying by members of Asocolcanna, the Colombian cannabis association.

Progress was in sight, was a letter from the Superintendent of Industry and Commerce in 2020 to the Ministry of Health recommending the export of cannabis flowers.

International companies will participate in the Colombian cannabis reform

Most of the country’s medicinal cannabis market is still underdeveloped, which is why most of the raw materials end up in the international market. The world market here includes Great Britain, Germany and the USA.

With the lifting of the ban on sending dried flowers, the regulatory process will be initiated, which will be carried out at the highest level, in line with international standards. The vice president of regulation insists that the end of the ban is something new in the Colombian cannabis market.

How the decree affects cannabis multinationals in Colombia

President Duque signed the new law at an event held at a facility owned by Clever Leaves, one of the 18 multinational companies growing and investing in medicinal cannabis in Colombia.

The Colombian government’s policy change will address the country’s addressable market, a region in which Clever Leaves has made significant investments. However, prior to the enactment, the company struggled with limited sales capabilities and could only sell processed or extracted products. The new law will change the game for the company.

Although Clever Leaves had banning issues with Columbia, the company has built the necessary capacity to manufacture a pharmaceutical product.

Clever Leaves is poised to maximize this new cannabis opportunity in Colombia to export dried flowers. They will use their specialized agricultural facility.

The company’s Part II certification also includes the production of dried flowers with over 30 cannabinoid genetics registered in Colombia. The regulatory advancement will help the company serve its customers worldwide as they benefit from Latin America’s only EU GMP licensed marijuana process. The operation already includes an EU GMP-certified dried flower production.

Colombian cannabis: a safer harvest

Expert project that Latin American cannabis exports can be worth up to $ 6 billion and a newly regulated industry will eliminate the need for deadly drug eradication tactics. The regulated medicinal cannabis bloom will also help fight cocaine production, which is a much better option than spraying cocoa fields with cancer-causing substances.

The Financial Times has reported that cocaine production is a bigger problem in the country than it was in the 1990s. The International Agency for Research on Cancer (IARC) reported in 2015 that the ingredient in glyphosate may be carcinogenic to humans.

According to the UN, cocoa production increased by 250% between 2012 and 2017. Despite the efforts of President Duque, little progress was made as the cocoa operations continued to flourish. For decades, paraquat poisoning on marijuana and cocoa plantations has sometimes brought with it U.S. DEA agents who put a tremendous burden of long-term health effects on Colombians.

This new deal will make marijuana a much safer crop that will satisfy the cravings of Colombians who enjoy cannabis while also finding its way into a thriving international community.

Bottom line

Colombia is now ready to take its place in the international cannabis market and this is a source of great excitement for anyone who enjoys marijuana products. Here, too, the focus is on dried cannabis flowers, which have become a very popular substance around the world.

This country is a leader in Latin America. Will we hear more of such decrees from other nations? Hopefully, and it will all be for the good of the marijuana industry.

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