Cannabis production licenses in Ecuador

The Ministry of Agriculture and Livestock (MAG) will grant seven types of licenses for the production of non-psychoactive cannabis and industrial hemp in Ecuador, according to the regulations approved this October 19th.

The cannabis industry, which has pharmaceutical, textile, and food uses, among others, moves about $150 billion in the world and the Ecuadorian government sees cannabis as an alternative for producers in the country.

The controversy of cannabis lies in the percentages of its two main components: CBD, which has medicinal properties, and THC which produces psychoactive effects. The Ecuadorian legislation defined that the seeds that are sowed must not exceed 1 percent of THC.

With this regulation, Ecuador is starting practically from scratch, as there is no market for seeds of cannabis plants in the country. For that reason, the permits range from import, cultivation and production of derivatives, to research and export.

Read more at born2invest.com


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