Colombia has been on the map, definitely when searching at the cannabinoid planet from Europe, for the final two to 3 years. Judging by the quantity of participants who show up at International Cannabis Enterprise Conferences, at least from this aspect of the planet, 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 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 larger levels of THC. The recipient of the very same, Khiron Life Sciences Corp. also announced that it would use the license to generate higher THC extract to treat 15,000 individuals by way of the Latin American Institute of Neurology and the Nervous Method (or ILANS).
Beyond domestic distribution, what does this improvement bode for international markets?
Although Germany is clearly on the minds of Khiron, a shrewd international operator with operations that currently attain to the UK and Germany (such as assisting to provide cannabis for the British Project2021 project) this opens up other discussions a small closer to house in the very same hemisphere. Namely, how lengthy will it be ahead of such organizations also start to appear to each the Canadian and US markets?
Khiron, in certain, 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 nonetheless one particular of significantly 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 want and price sensitivity.
How price-helpful cannabis oil from Colombia is in the European hemisphere as extra regional production starts to ramp up is a further matter. See Greece, Portugal, and of course North Macedonia in the brief term.
This query is nonetheless in the space of course, along with the acceptance of health-related GMP requirements for something coming out of the American hemisphere in basic, especially in the aftermath of CannTrust.
Regardless, it is clear that as a further early mover Canadian decides to revamp and retool, such as placing each European and Canadian plans to expand on indefinite hold that Latin America will play an increasingly larger function in the worldwide cannabis industry.