A Unique Form of Innovation for CBD Industry
By: Smeho Too
Tags: Cannabis, Stock Market, Cbd, Finance

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Cannabis and CBD legalization has been a controversial subject for a long time. And recent victories, such as the Farm Bill, seem to pave the way for it to finally happen. But while the rest of the world is starting to support cannabis, Latin America already has one example of successful legalization. Therefore, the South American cannabis scene might have the potential to become one of the best-thriving markets in the world. But how exactly does the future look for the pro-legalization movement in South America?

What might shock some people is that Uruguay was, in fact, the first country that legalized cannabis for recreational use. They did it all the way back in 2013 when other countries were even arresting people for possession . Further developments into the CBD part of the cannabis industry have sped up the legalization process. It seems that a single spark from Uruguay created the fire that many cannabis and CBD lovers alike were looking for. According to reports, legal cannabis production was worth nearly $125 million in 2018 and might emerge to almost $12.7 billion by 2028. But the regulations play a big role in that huge development, as most Latin American countries have a different approach to legalization. There are two types of approval when it comes to cannabis, one being for medicinal use and the other for recreational. Mexico, Colombia, Uruguay, and Peru allow the medicinal use of cannabis.

Possession of marijuana for personal use is also decriminalized in many Latin American countries, with Colombia allowing up to over 20 plants. Furthermore, Colombia is poised to become a global low-cost leader in cannabis production. These other realms’ core division is Cosechemos, a cannabis cultivation and extraction facility located in Bucaramanga, Colombia. (1) The world is starting to embrace cannabis once again after a tremendous prohibition. If you clearly have no idea in this flourishing industry, stop beating around the bush and let this page brighten your baffling apprehensions!

Colombia issued a decree in 2017 that officially formalized its medicinal cannabis industry. The country has used that chance to export cannabis to countries in potential demand, making it an industry giant. In the following years, Colombia has seen developing revenues and thanks to its export capabilities. Right now, local cultivators are trying to improve the quality in order to meet industry standards. Following EU Novel Foods Regulations is also a big focus of the Colombian cannabis industry. And while it might take some time for them to surpass other country’s cannabis quality, their dedication is noticeable. Moreover, sectors are also looking toward Colombia for their next big ventures. That is acknowledging low labor costs and the perfect fostering conditions that the country has. According to Johnny Green, Weed News’s founder, it’s easy to assume that Colombia is shaping up to take the world by storm in the following years. For now, everybody is keeping their eyes on this evolving South American country.

Drawing on the innovative approach for cultivation and extraction, these additional categories announced they have developed into the United Kingdom and Costa Rica, fulfilling initial orders from two new distributors. With possible cannabis legalization on the horizon in the United States, a potential of approximately $40 billion TAM cannabis possible supply and demand gap could be created. Rooting for credible scopes who might prioritize organic ingredients and value-chain sustainability to create products that help consumers restore and thrive? You’re probably on the right lines!

Overall, it’s obvious that Latin America is a rapidly developing cannabis sector. The interest and the speculation that divisions pay to the LATAM region might only help it to evolve faster. And with more and more countries legalizing cannabis and CBD, the area might soon become a haven for users and producers alike. Colombia is a shiny example of overcoming the difficulties of entering the cannabis market. And once other countries in the area follow its example, the whole industry might become more diverse and flourish as a result. If you are a venture capitalist, you could definitely keep your eyes on South America. Not taking advantage of the ripe region now might likely make any sector regret it later on. Set the ball rolling, navigate further ideas and nuzzle the potentials of cannabis before it’s too late!

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Source 1: https://latinamericanpost.com/37296-the-evolution-of-cannabis-and-cbd-in-south-america