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Two companies are the first in Latin America to export medicinal marijuana to Europe.
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Under agreements announced Wednesday, two Uruguayan and Colombian companies will become the first in Latin America to export medical marijuana products to Europe.
Fotmer Life Sciences of Uruguay and Clever Leaves of Colombia will export cannabis extract and dried marijuana flowers to Germany, which they describe as Europe’s largest market, with an estimated 700,000 people using marijuana-derived medicinal products.
Uruguay became the first country in the world in December 2013 to legalize a national cannabis market, from growing to purchasing for personal use, and the government later legalized the export of medical marijuana products to countries where it is legal, sparking a surge of investment. Colombia has legalized medical marijuana products after decriminalizing marijuana use.
The announcements of the deals did not specify a monetary value or a start date.
“This puts Uruguay on the map” in terms of pharmaceutical cannabis, according to Fotmer CEO Jordan Lewis, an American who moved to Uruguay to participate in the cannabis industry following its legalization.
Clever Leaves CEO Andrés Fajardo said in a press release from Germany that the export deal demonstrates “that the Colombian market can reach international standards and produce high quality medicinal cannabis.”
Cansativa GmbH, the German company that will import the products, stated that this is the first time a European company has purchased medicinal cannabis from Latin America. Cansativa co-founder and director Benedikt Sons stated in a statement that trade with Latin America will ensure better prices in Germany by expanding supply sources beyond the Netherlands and Canada.
Fotmer, based in the small town of Nueva Helvecia, employs 80 people and plans to invest $7 million in laboratories and 10 tons of marijuana crops for export. It offers dried cannabis flowers for sale.
Clever Leaves manufactures marijuana flower extract oil, which is used in pills, creams, ointments, patches, and other products for the treatment of epilepsy and chronic pain, among other things. It intends to produce 32 tons of dried marijuana flowers this year and 85 tons by 2020.
