Cannabis Flower Sales In Colombia And The Small Producer Protection Myth: Ex-Official Says Most Companies Qualify
Article via El Planteo
Colombia is on the verge of transforming its medical cannabis market with a new decree that will allow the sale of dry cannabis flower locally, benefiting both companies and patients.
However, while the decree is believed to protect small producers, it actually favors micro, small and medium-sized enterprises (MIPYMES) based on income, not excluding companies with large investments.
The classification of MIPYME in Colombia is determined by income, number of employees or assets, meaning that most cannabis companies will qualify under this criterion. This opens up the possibility for many companies, regardless of size, to participate in the local market. Some publicly traded cannabis companies operating in Colombia include:
Avicanna Inc (OTC:AVCNF) (TSX:AVCN)
Clever Leaves Holdings Inc (OTC:CLVR)
Flora Growth Corp (NASDAQ:FLGC)
One World Products Inc (OTC:OWPC)
Pharmacielo Ltd (OTC:PCLOF)
The decree also imposes new regulatory hurdles, such as the requirement for sanitary authorization for dry flower, which could delay the implementation process. Additionally, companies with Good Manufacturing Practices (GMP) certifications will need to make adjustments to comply with this new regulation.
See also: Colombia: When Will Cannabis Flower Sales Begin? There’s No Fixed Date, Says Ex-Official
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