Colombia has been on the map, surely when hunting 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 Business enterprise Conferences, at least from this element 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 had been for plants with significantly less than 1% THC.
This has now changed. The nation has issued its initial license for the commercialization of “psychoactive” cannabis, in other words containing greater levels of THC. The recipient of the similar, Khiron Life Sciences Corp. also announced that it would use the license to make higher THC extract to treat 15,000 sufferers by way of the Latin American Institute of Neurology and the Nervous Program (or ILANS).
Beyond domestic distribution, what does this improvement bode for international markets?
When 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 tiny closer to residence in the similar hemisphere. Namely, how lengthy will it be just before such providers also commence to appear to each the Canadian and US markets?
Khiron, in specific, also has plans to provide Uruguay with entire-plant export, which is an ambitious move thinking of the nation is the only 1 in Latin America and nonetheless 1 of significantly less than a handful globally to legalize recreational use.
Nonetheless, it is this play alone which signifies that Khiron, along with other people that clearly establish themselves in such geography, is hunting at markets with higher require and price sensitivity.
How price-efficient cannabis oil from Colombia is in the European hemisphere as extra nearby production starts to ramp up is yet another matter. See Greece, Portugal, and of course North Macedonia in the quick term.
This query is nonetheless in the space of course, along with the acceptance of healthcare GMP requirements for something coming out of the American hemisphere in common, especially in the aftermath of CannTrust.
Regardless, it is clear that as yet another 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 function in the worldwide cannabis market place.