Medicinal cannabis: Colombia becomes a powerhouse
Video description: Federico Cock-Correa, a renowned businessman from the flower sector, explains how he ended up in the cannabis business and how profitable this prosperous agricultural industry may be. (English captioning.)
Translated snippet from accompanying article at Dinero.com, Feb. 6, 2019:
Colombian flowers flood the streets of Valentine’s Day celebrations in the United States and European countries today. It is a multicolored photo that is repeated every year and represents hundreds of millions of dollars for the flower industry in the country. However, a new agroindustrial activity flourishes these days in greenhouses, warehouses and laboratories in Colombia, in large part because of the money that comes from the Toronto Stock Exchange and the accumulated capital of big business owners of rice, flowers and coffee, among others.
This is the cannabis, or legal marijuana, that has been planted for a couple of years, since the enactment of Law 1787 of 2016, which allows the cultivation and manufacture of inputs and products of this plant for medicinal purposes. This law was the trigger for companies to build the scientific, legal, technological and commercial roadmap for this business to germinate. …
This is a golden opportunity for Colombia to become one of the largest suppliers in the world. … 20 or 30 years ago, the rural area of Rionegro, Antioquia, was the epicenter of the extortive action of groups such as the ELN. “It was easy to see abandoned houses with bullet holes in the facade,” says one of its residents. However, everything changed in a couple of decades. In the same neighborhood and about 20 minutes by car from the Rionegro International Airport is one of the most complete and modern agroindustrial complexes in Colombia for the processing of medicinal cannabis, PharmaCielo.
Dinero visited these facilities, taking into account that this company with Canadian roots was listed on the Toronto Stock Exchange (TSXV:PCLO) on January 18.
PharmaCielo Colombia’s CEO and co-founder, Federico Cock-Correa, met with us in one of PharmaCielo’s greenhouses to tell us, in an exclusive interview, the details of the process. This businessman has a history of 34 years in the flower industry, exporting and producing roses, poms and chrysanthemums. USD 50 million are being invested in this Rionegro complex. … Read more.