Colombia: Cannabis exports increase by 96% and boost jobs, business and innovation

Colombia exported 8,4 million dollars (about 7,84 million euros) of cannabis between January and November 2022, an increase of 96% compared to the same period in 2021. According to figures published by the DATA (the Colombian National Administrative Department of Statistics), the five provinces with the highest exports were Bogotá (48%), Cundinamarca (30%), Antioquia (12%), Santander (8%) and Magdalena (2%).

According to The New Century, there were 13 Colombian companies that exported cannabis to 14 countries, Argentina being the biggest importer, with 40%, followed by Brazil (14%), Australia (12%), Switzerland (7%), Israel (6,5% ), United States (6%) and Germany (5,5%). Latin America and the Caribbean accounted for 58% of export volume.

Carmen Caballero, president of ProColombia, said that this is “a sector that has an important potential in the creation of quality jobs, especially for women, in different regions of the country. Likewise, value-added cannabis products have stood out for their quality and innovation”.

Cannabis: a booming business for Colombia
According to DANE figures, analyzed by ProColombia, the goods most sought after abroad were extracts, medicines and seeds. In 2021, more than 90% of Colombian cannabis exports originated in the provinces of Bogotá, Cundinamarca, and Antioquia, but another 12 provinces were identified with high export potential for this type of product.

In November 2022, the second “Business Roundtable on Medicinal and Industrial Cannabis” was held, organized by the Ministry of Commerce, Industry and Tourism and ProColombia, with the support of the Asocolcanna (Colombian Association of Cannabis Industries). At this meeting, 250 business meetings were held with 21 international buyers from 10 countries and 51 small and medium-sized companies, with Colombian offers ranging from extracts to pharmaceuticals and cosmetics.

Colombia has a stable regulatory framework, which is one of the most comprehensive internationally, and allows for the development of research centers. It also has a wide range of high quality products including seeds, raw extracts, distillates, isolates and finished products such as herbal products and cosmetics.

Colombia's environmental and geographic conditions allow for four harvests per year, in a wide range of cultivation modalities (outdoor, outdoor with semi-automatic irrigation and indoor with light and irrigation), maximizing crop yields and reducing production costs .

The Colombian government has also been working to generate development in the regions by strengthening the business structure in these areas, with nine of the 51 companies participating in the November 2022 meeting located in eight municipalities with less than 200 inhabitants.