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Economy & Business - October 2019

The cannabis industry in Colombia: reaching new highs

Since the approval of law 1787 in Colombia in 2016 regulating the production of cannabis for medical and scientific purposes, the industry has had impressive growth. Areas close to Bogotá are making the most of their twelve hours of daylight and long-standing expertise in growing flowers to now grow cannabis for markets in North America and Europe. With legalisation in several US states, in Canada and in certain European countries, the market for legal cannabis, both medicinal and recreational, is expected to grow to up to US$145bn by 2025.

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