Colombia exports medical cannabis to Mexico for the first time

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Pideka made the first commercial export of medical cannabis to Mexico and for the pharmaceutical industry, a market the company estimates could reach nearly $ 20 billion over the next five years. The company also expects to be a major player in Europe in two years, increasing the number of jobs in the country fivefold.

The delivery was from the indoor plants in Tocancipá to Mexico, where nearly a million potential patients are eligible for treatments with these components.

“This is a very important step that we have been able to take hand in hand with ProColombia and other companies in the Colombian government. This opens the door for us to consolidate ourselves in a market as important as the Mexican market and sell medicinal cannabis oil THC to the public or private sector. This can be used by the pharmaceutical industry to fight four fronts: chronic pain like arthritis, different types of epilepsy, insomnia, stress and anxiety, and reducing the side effects of chemotherapy in cancer treatments. The Mexican customer chose this product of Colombian origin because of production, quality and legislative issues, ”said Borja Sanz de Madrid, President of Pideka, a Colombian-based company that is part of the Canadian international holding company Ikanik Farms, the Spanish Canadian, North American and Latin American investment.

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ProColombia in support of the cannabis industry

The businessman estimates that he could export between $ 80 million and $ 100 million in medicinal cannabis from Colombia containing THC in the next two to three years, taking into account that a liter of the product can cost around $ 45,000.

ProColombia aims to support the cannabis industry in regulating, promoting investment, exporting and identifying opportunities in markets where regulation enables access to these products, such as Germany and the UK. In addition to profiles from other markets such as Peru, the USA, Spain and Brazil.

“This is a conservative range based on the amount of liters we have per year and which we will be increasing gradually. We see great demand in Mexico and also want to serve the European market, where we have already seen interest from pharmaceutical companies in Denmark and England. Once Asia has its first legalizations it could be a very important continent for demand.

With this in mind, we want to be one of the main players in the world thanks to our efficiency model, ”said the President of Pideka, a company with just over 30 employees that is expected to reach 150 jobs in 2022.

According to the Dane, between January and November 2020, the US, UK, Australia, Israel, Germany and Switzerland were the countries that bought the most medicinal cannabis from Colombia. The jump was exponential as over that period exports rose from $ 275,000 in 2019 to $ 4.7 million, growing over 1,600%.

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(Selected image by Julianza via Pixabay)

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