After the president of Colombia, Iván Duque, signed the new regulation in decree 811 that now allows safe, informed and give access to the medical and scientific use of cannabis, the green light to the manufacture of textiles, food, or beverages based on of cannabis, in addition to make possible the export of the dried flower of cannabis.
With the prohibition removal that limited the dried flower exportation, the country started to play big in the international market, and this created a good opportunity for the companies in Colombia.
Cannabis flowers concentrate all the medicinal and psychoactive compounds of the plant, that’s why the impact on the market exceeds 50% of cannabis sales worldwide.
Besides the illegal traffic of the plant, that creates fear on the authorities, with the exportation the possibilities of exploring new markets and to take advantage of the production costs of the where is the boom of the plant in the country.
It’s estimated that by 2024 with the new regulations, the medical cannabis business will become a 64 million dollars industry.