Colombia Is Set To Become A Top International Source For Legal Cannabis
Few regions in the world, if any, are as well-positioned as Colombia to sustainably produce mass amounts of raw cannabis material at an affordable price. The South American nation’s climate and geographical location are ideal for cultivating cannabis under the sun and in greenhouses on a very large scale.
Located along the equator, the duration of daily sunlight in Colombia is roughly 12 hours every day of the year, which is perfect for ‘flowering’ cannabis plants. In other regions of the world, including North America and Europe, cannabis can only be cultivated outdoors during warmer seasons.
Additionally, Colombia is located in the Andes Mountain range and has an average altitude of roughly 2,600 meters. Cannabis cultivated at higher altitudes requires less pest control than cannabis cultivated at lower altitudes.
Due to those factors and other factors, quality cannabis can be cultivated in Colombia for as cheap as $.06 per gram of dried flower – a fraction of what it costs to produce dried cannabis flower in North America and Europe, which can be as much as $2 per gram of dried flower.
Colombia has major cannabis production advantages over other regions that simply cannot be replicated, and the legal international cannabis business community is taking notice. Large companies are relocating their production facilities to Colombia and/or teaming up with domestic producers at an ever-increasing rate.
The opportunities in Colombia and the surrounding region are substantial, but getting in on the ground floor in a meaningful way can be tricky. It requires proper due diligence and networking with the right people at the right place and time.
A great opportunity for entrepreneurs, investors, and other industry members to learn more about Colombia’s emerging legal cannabis industry is coming up in Medellín, Colombia at the 2024 Cannaworld Congress where policy experts and industry leaders from the region and around the world will converge.
The 4th installment of the Cannaworld Congress, which is taking place on November 12th and 13th, 2024 at the Intercontinental Hotel in Medellín, will focus on medical cannabis policy, industrial hemp, and the emerging global industry.
Another great opportunity is the 7th installment of the EXPOMEDEWEED conference, which is taking place alongside the Cannaworld Congress from November 11th to 13th at the Intercontinental Hotel. EXPOMEDEWEED is the largest international cannabis industry event focused on the Latin and South American regions.
According to ProColombia, a government agency in charge of promoting nontraditional Colombian trade, the value of medical cannabis exports from Colombia was $10.8 million in 2023, which was an 11.3% increase over 2022, and a 96% increase from 2021.
Per Statista, Colombia’s legal cannabis industry is expected to increase to a value of $64.59 million by the end of this year, and “revenue is anticipated to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 2.09%, leading to a market volume of US$71.64m by 2029.”