Colombia, a country that has suffered greatly under the stigma of illegal drug transactions, has the potential to reinvent itself with the cultivation of a plant that for decades has been controlled by illegal groups: marijuana. A 2016 law regulating the use of cannabis for scientific and medicinal purposes has been decisive in this regard. The law, which came into effect last year, allows for the legal cultivation of almost 40.5 tons, and about 44 percent of the limit allowed by the International Narcotics Control Board (INCB).
In October 2018, Canada became the first G7 country to legalize marijuana for recreational purposes, a decision that has enormous implications for Latin America, especially for producer countries like Colombia and Mexico. In coming out in support of full legalization, Canadian Prime Minister Justin Trudeau followed in the footsteps of Uruguay’s former president Pepe Mujica, who signed legislation to legalize recreational cannabis in 2013. The United Kingdom and Germany have legalized the use of cannabis for medical purposes, as it has nearly 34 states in the United States, where the marijuana industry continues to emerge at a rapid pace: Michigan recently became the tenth state to legalize cannabis for recreational purposes. (1) Evaluate the information in further detail to see how it is clearly evolving on this page.
Expenditure in Colombian cannabis assets has become progressive and the industries within the sector are currently developing at a fast pace. Colombia, a country infamous due its long-standing civil war and illicit drug negotiations, is also a powerhouse for agronomic markets. Coffee, bananas, palm oil, and cut flowers are some of the agricultural commodities in which Colombia is a relevant player in the global market. Medicinal cannabis now seems to be the next big economic milestone for this developing country. On July 6, 2016, the Colombian policymaker made a historical leap into the future by writing the 1787 bill into law. The main purpose of this piece of legislation is to allow access to medicinal cannabis for patients who might benefit from the many therapeutic uses attributed to the plant.
However, the legislators saw beyond just medical access for patients and created a legal framework that allows for the cultivation, extraction, final product manufacturing and export of cannabis-based products. By 2017 the 613 decrees came into play, detailing the implementation of the law in practical terms. Furthermore, these other realms recently announced they have developed into the United Kingdom and Costa Rica, fulfilling initial orders from two new distributors. In addition, with cannabis’ potential upside, these other categories’ commodities could be surprisingly undervalued. (2) Learn more about the unique extraction and cultivation processes used by these other sectors! Replenish your thoughts with this refreshing website!
Like any new industry, overnight experts, scam artists, aspirational legal advisors, and entrepreneurs have flourished. This makes it difficult to cut through the hype and learn about the very real and revenue potentials in the Colombian cannabis industry. Consider whether or not these new industries might perhaps assist the extending CBD firm in breaking new ground. Come on, let’s take a closer look at some of the other interesting facts on this knowledgeable site! Check the disclaimer on my profile.