Columbia’s government may be reconsidering the ban it has on medicinal cannabis flower exports soon.
The Superintendency of Industry and Commerce (SIC), a government agency that promotes fair business practices, has sent a letter to the Ministry of Health that recommends Colombia modify current regulations and allow flower exports.
This is the first time the SIC has recommended allowing flower exports. Allowing the exports for commercial medical use could allow new opportunities for producers in the country.
Currently cannabis flower exports from Colombia have been authorized only for scientific purposes.
As of October 2020, total cannabis exports from the country were at $5 million, according to a report issued by Asocolcanna, the main cannabis industry association in Colombia.
Most of those exports were shipments of CBD to the United States, then the United Kingdom and Australia.
“It’s critical that Colombia’s regulatory framework remains competitive and allows companies to access new markets, increase revenue and attract further investment,” said Rodrigo Arcila to Marijuana Business Daily. Arcila is the executive president of Asocolcanna.
“Allowing flower exports makes strategic sense,” said Camilo de Guzman, general counsel of Colombian licensed producer NatuEra, to MJBizDaily.
Guzman added that “Colombia’s ability to grow and harvest high-quality flower year-round, at a low cost and in many microclimates, positions it uniquely to service this market with a varied offering of fresh product at stable quantities and prices.”
According to the SIC, the flower export restriction “causes market distortions without achieving the proposed objective.”
