Recently, the Ecuadorian National Assembly approved the legalization of medicinal cannabis, a decision that was coming for some time. For one, personal consumption of up to 10 grams has been legal since 2008.
Furthermore, lawmakers actually proposed medical cannabis legalization back in 2016, but due to some concerns regarding the black-market hindering regulation of medicinal products, legalization was delayed. Now, thanks to some tweaks to the proposition, these concerns have been put to bed.
As per the last known proposal, licenses, which will be granted by the Ministry of Health, will apply to cannabis and seed strain with no more than 1% THC.
Ecuador, just like other of its neighboring countries, has a stable and very favorable climate for cannabis cultivation, which is not only a tremendous advantage in the long run, but also in the difficult start-up stage in particular, as it alleviates the need for major infrastructure investments.
This, coupled with the convenient location of Ecuador’s coastline which provides easy access to North America—a huge market that is struggling to keep up with the ever-growing demand since legalization, as well as the cheap cost of labor, the Latin American country is poised to become a major factor in the global cannabis landscape.
We are excited to see what the future holds for the Ecuadorians, as well as the Latin American cannabis market altogether, as both have all the makings not only of major players in the budding industry, but ones that can push its envelope even further.
Image Credits: Canal Caribe