In 2020, Canada became the largest exporter of dried cannabis flower in the world. Today, Canada is looking over its shoulder at a formidable competitor in Colombia, which recently instigated some legislative changes that position the country to become the global cannabis leader. Colombia was already recognized for its robust infrastructure, distribution and exports of certain cannabis products such as medicinal oils and extracts, but the country had a gaping hole in exports by keeping dried cannabis flower strictly verboten. That hole was filled on July 23, 2021, when Colombian President Ivan Duque signed a legislative decree ending the prohibition on the export of dried cannabis flower — a significant global market and a potential windfall for Flora Growth Corp. (NASDAQ: FLGC) (Profile) and its expansive global operations. The broader industry should also benefit from this latest development since most majors, including Canopy Growth Corporation (NASDAQ: CGC), Tilray Inc. (NASDAQ: TLRY), Cronos Group Inc. (NASDAQ: CRON) and Sundial Growers Inc. (NASDAQ: SNDL), support the mainstream worldwide evolution of legal cannabis.


Share | Download