Colombia’s cannabis exports were on pace to nearly double last year, as the South American country aims to meet demand in the small but growing international import market.
Between January and November 2022, Colombia exported $8.4 million worth of cannabis, up 96% compared to the same period one year earlier, according to ProColombia, a government agency in charge of promoting nontraditional Colombian trade.
A total of 13 companies exported products to 14 countries, ProColombia reported, citing data from the Colombian National Administrative Department of Statistics.
“Fifty-eight percent of the exports were destined for Latin America and the Caribbean,” said Carmen Caballero, president of ProColombia.
“(Medical cannabis) is a sector that has significant potential in generating quality employment, especially for women, in different regions of the country.
“Likewise, cannabis value-added goods have stood out for their quality and innovation.”
The top destination for cannabis exports from Colombia was Argentina, which accounted for 40% of the value.
The remaining destinations were:
- Brazil (14%).
- Australia (12%).
- Switzerland (7%).
- Israel (6.5%).
- United States (6%).
- Germany (5.5%).
The ProColombia analysis said the sought-after goods abroad were extracts, medicines and seeds.
In 2022, over 90% of Colomba’s cannabis exports originated from the departments of Bogotá, Cundinamarca and Antioquia.
However, the government said another 12 regions have been identified as departments with high export potential for cannabis.
Last November, ProColombia and the Ministry of Commerce, Industry and Tourism organized the second Medicinal and Industrial Cannabis Business Roundtable.
The event featured roughly 250 business meetings with 21 international buyers from 10 countries.