Colombia boosts budding hashish trade by eradicating ban on dry flower exports

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Colombia boosts budding hashish trade by eradicating ban on dry flower exports


By Nelson Bocanegra

BOGOTA, July 23 (Reuters)Colombia on Friday gave the inexperienced gentle for exports of dried hashish for medical and different industries, because the Andean nation took one other step to develop its marijuana trade, the place progress has been sluggish regardless of excessive potential.

President Ivan Duque signed a decree lifting a prohibition on exporting dried hashish flower, a transfer seen as essential by buyers.

The directive additionally permits for the growth of gross sales of cannabis-based medicines and streamlines regulatory procedures.

Whereas Colombia has been hailed as a pioneer in regulating the possession, manufacturing, distribution, commercialization and export of seeds, vegetation and substances derived from hashish – like oils, lotions and extracts for medicinal functions – buyers have lengthy complained about what they are saying is a tortuous export-approval course of.

“This implies Colombia can enter to play an enormous function within the worldwide market,” Duque mentioned after signing the decree, including the brand new guidelines would permit Colombia’s hashish trade to broaden into meals and drinks, cosmetics and different sectors.

Latin American hashish exports might be value $6 billion, Duque mentioned.

“Lifting the prohibition on exporting the dry flower will begin a regulatory course of which we hope will likely be carried out in nice element, to the best worldwide requirements,” Juan Diego Alvarez, vp of regulatory points for hashish producer Khiron, advised Reuters.

Colombian hashish trade affiliation Asocolcanna urged the nation to grab the chance to take advantage of its aggressive benefits.

“It is essential for Colombia to realize its potential at a time when the worldwide hashish trade is being refined,” Asocolcanna mentioned in a letter printed on its web site.

In nations the place the medicinal hashish trade has extra mature regulation, like the USA, the UK, Germany and Israel, dried hashish is essentially the most developed sector of the market, accounting for greater than 50% of all gross sales.

(Reporting by Nelson Bocanegra in Bogota Writing by Oliver Griffin Modifying by Matthew Lewis)

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