Colombia may start laying the groundwork for THC-rich medical cannabis exports. In a letter to the Ministry of Health, the country’s Superintendency of Industry and Commerce (SIC) suggested that Columbia amend regulations to allow cannabis flower exports, Marijuana Business Daily reports.
Currently, only cannabis for “scientific purposes” can be exported from the South American nation. Yet, despite millions of dollars in foreign investment, Colombian cannabis exporters have struggled to gain a foothold in the global market. Experts believe this first-of-its-kind interjection by the SIC could push the Columbian government to allow medical cannabis exports.
A report by Colombia’s largest industry association Asocolcanna found that Colombia is exporting mostly high CBD extracts to the US, UK, and Australia for a total of $5 million.
“It’s critical that Colombia’s regulatory framework remains competitive and allows companies to access new markets, increase revenue and attract further investment.” — Rodrigo Arcila, Executive President of Asocolcanna, via MJBizDaily
The SIC “nudge” follows a similar letter from Asocolcanna earlier this year in which they urged the Columbian government to allow the export of high THC cannabis. Both letters come at a time when the Colombian government is expected to modify the countries cannabis laws.
Camilo de Guzman, general counsel for Columbian medical cannabis producer NatuEra, told MJBizDaily, “Allowing flower exports makes strategic sense.” De Gusman says Colombia is a ideal location to grow cannabis with its year round growing season and its ability to provide high quality consistent product to the world market.
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