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 Enterprise 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 had been for plants with significantly less than 1% THC.
This has now changed. The nation has issued its very first license for the commercialization of “psychoactive” cannabis, in other words containing greater levels of THC. The recipient of the exact 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 Technique (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 (like assisting to provide cannabis for the British Project2021 project) this opens up other discussions a tiny closer to residence in the exact same hemisphere. Namely, how lengthy will it be prior to 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 a single in Latin America and nevertheless a single 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 have to have and expense sensitivity.
How expense-efficient cannabis oil from Colombia is in the European hemisphere as much more regional production starts to ramp up is one more matter. See Greece, Portugal, and of course North Macedonia in the quick 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 common, specifically in the aftermath of CannTrust.
Regardless, it is clear that as one more early mover Canadian decides to revamp and retool, like placing each European and Canadian plans to expand on indefinite hold that Latin America will play an increasingly larger part in the worldwide cannabis industry.