Colombia has been on the map, absolutely when searching at the cannabinoid globe from Europe, for the final two to 3 years. Judging by the quantity of participants who show up at International Cannabis Small business Conferences, at least from this component of the globe, this is also not a casual discussion.
As of November, the game has clearly changed. For all of the speak about production in the nation, up till now, all the licensed grows have been for plants with much less than 1% THC.
This has now changed. The nation has issued its 1st license for the commercialization of “psychoactive” cannabis, in other words containing larger levels of THC. The recipient of the exact same, Khiron Life Sciences Corp. also announced that it would use the license to make higher THC extract to treat 15,000 sufferers through the Latin American Institute of Neurology and the Nervous Technique (or ILANS).
Beyond domestic distribution, what does this improvement bode for international markets?
Even though Germany is clearly on the minds of Khiron, a shrewd international operator with operations that currently attain to the UK and Germany (which includes assisting to provide cannabis for the British Project2021 project) this opens up other discussions a small closer to dwelling in the exact same hemisphere. Namely, how lengthy will it be prior to such corporations also commence to appear to each the Canadian and US markets?
Khiron, in distinct, also has plans to provide Uruguay with complete-plant export, which is an ambitious move contemplating the nation is the only one particular in Latin America and nevertheless one particular of much less than a handful globally to legalize recreational use.
Nonetheless, it is this play alone which signifies that Khiron, along with other individuals that clearly establish themselves in such geography, is searching at markets with higher require and price sensitivity.
How price-productive cannabis oil from Colombia is in the European hemisphere as additional regional production starts to ramp up is an additional matter. See Greece, Portugal, and of course North Macedonia in the brief term.
This query is nevertheless in the area of course, along with the acceptance of healthcare GMP requirements for something coming out of the American hemisphere in basic, especially in the aftermath of CannTrust.
Regardless, it is clear that as an additional early mover Canadian decides to revamp and retool, which includes placing each European and Canadian plans to expand on indefinite hold that Latin America will play an increasingly larger part in the international cannabis industry.