The medicinal cannabis industry in Colombia

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The world medicinal cannabis market will be around 50,000 million euros by 2025. The medical cannabis industry in Colombia began to grow in 2016 when robust legislation was passed; through the law 1787 which allows the cultivation and manufacture of inputs of this plant for medicinal purposes.

Competitive advantages of the medicinal cannabis industry in Colombia

Colombia has competitive advantages to develop this industry successfully and position itself at the forefront of the world in this industry; next we mention some:

Advanced regulatory framework

The regulatory framework of progress that this industry has. Started with the Requirements to grow cannabis in Colombia.

Among other important topics; is everything that has to do with:

Creation of companies

Shareholders Agreement, Chamber of Commerce, Required Accounting, Bank Information, Other bureaucratic requirements.

Legislation and Strategic Planning

Seed management, Non-psychoactive cultivation, Psychoactive cultivation, Production of derivatives, Seed registration process, Transport and export

Application and Monitoring of the License

Ministry of Justice, Ministry of Health and Social Services, CA-Colombian Agricultural Institute, Government Relations, Production quotas, Security requirements' Taxes and repatriation of capital. Due to the type of products there are very specific requirements that must be fulfilled in their entirety.

Procedures for Exports and International Regulation

Commercial broker, spot contracts and off-take agreements, international quality certificates, logistics and chain of custody, import / distribution in Canada, UK, Germany and Latam

Geography

The geography of some areas of Colombia, jungle, make the crops of the plant propitious. Colombia is on an equatorial line which allows 12 hours of natural light all year round,

Privileged environmental conditions

There are areas in Colombia such as Sogamoso where there is better solar radiation. Another advantage is the soil tupo; where there is very this type of cultivation.

Growing market

With the legalization of medicinal and scientific use of cannabis and even recreational this market is unstoppable.

Canada is a country where demand has grown. In 33 states United States, its medicinal consumption is legal and 10 of them, the recreational use. In several countries of the European Union the therapeutic use is growing. Germany is a country where about 700,000 patients are estimated.

In Colombia, the projections indicate that exports of this item could be compared in a few years to exports of flowers and bananas combined for Colombia.

Companies as big as Altria Group and Novartis are invested in cannabis. International media say that at least 149 companies listed on Canadian stock exchanges also invest in this area.

Capital

In Colombia, the first investments for the development of sowing areas, seeds and other inputs were made with investments of entrepreneurs from the rice sector, floriculture and coffee. Now there are many opportunities to invest in this industry.

conclusion

In the medicinal cannabis industry in Colombia; Currently there are several companies in this business, obtaining extraordinary results. The potential of this business is enormous. For entrepreneurs and entrepreneurs who want to invest; we recommend you to look for professionals that provide comprehensive advice throughout the process.


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