Colombian government renews Medcann’s cannabis cultivation quota

For the second year in a row, the Colombian government granted Medcann Colombia, a company focused on the development of medical cannabis, a regular cultivation quota of 100,000 psychoactive cannabis plants, in the form of seed production for sowing and the manufacture of derivatives (export and research).

Likewise, the permit granted through resolution 425 of the Ministry of Justice and Law of Colombia will allow the cannabis company to develop its research project ‘Germplasm Bank’. That is fundamental for the conservation of genetic diversity and in avoiding the loss of genetic heritage in the cannabis cultivation process.

If you want to find out more about how the Colombian cannabis industry is developing at a fast pace, how some industries like Medcann are expanding their business, and to find out the latest hemp news, download the Hemp.im mobile application.

New authorization will allow the cannabis industry in Colombia to grow in the coming months

Currently, the cannabis sector in Colombia is expanding at a fast pace. Even though cannabis is illegal for commercial sale in the Latin American country, the use of this plant for personal reasons and some medical purposes is possible.

This has allowed the development of many cannabis-related industries and helped expand the cannabis market. A market that, in the coming years, could generate millions in revenues boosting the economy and helping the country to get over the current economic crisis.

The new authorization establishes an agreement for the sale of dried psychoactive cannabis flowers, which will allow Econnabis, the Colombian subsidiary of the Canadian multinational Plena Global, to generate the characterization of psychoactive derivatives that it can produce and export to its clients.

This new agreement will establish a long term partnership between both companies, in which Medcann Colombia will be in charge of supplying psychoactive cannabis dried flowers on a regular basis to their clients.

“The granting of these quotas is another sign of the Government’s commitment to the development of the cannabis industry, although greater agility is needed in the processes of granting permits to operate. In such a difficult time as the one we are living, serious projects like Medcann’s can help generate thousands of formal and sustainable jobs. The first contract we signed last December will generate more than 200 new jobs. For this to become a reality it is also necessary to facilitate access to the financial system and credit lines for agro-industrial projects and with a high degree of innovation,” explained Jon Ruiz, president of Medcann.

The decision comes just days after the company signed a contract with the Canadian cannabis company Klonetics Plant Science Inc. to license different varieties of psychoactive and non-psychoactive cannabis. This company specializes in marketing cannabis starting materials to its clients all over the world.

Medcann a leader in the Latin American medical cannabis sector

Medcann is a Colombian company focused on the cultivation of cannabis for medicinal purposes and the future development of cannabis-based medicines, in order to improve the health conditions of its customers. The company was founded in 2017, with headquarters in Bogota, and it currently has around 17 employees in all the Colombian territory.

It should be recalled that Medcann Colombia was the first Colombian company to obtain a permit from the national Government for the cultivation of cannabis for commercial purposes in 2019. In the past months, the company has closed some important deals with renowned cannabis companies like Botaniki Lab, Klonetics Plant Science Inc., and other companies in order to improve and expand its operations.

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(Featured image by Dfoa from Pixabay)

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First published in El Tiempo, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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