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CR: Promoting registration of products for the Cannabis and Hemp industry

The production and commercialization of derivatives of Cannabis and Hemp are taking their first steps in Costa Rica. The legal firm BLP, achieved, last year, the approval of the first registrations of products with CBD, which is a cannabinoid derived from the Cannabis plant. Subsequently, other CBD-derived products were registered.

This is the registration of supplements, cosmetics and food products. The authorization implied that the products are allowed to be freely marketed, only with cbd (cannabidiol) and 100% thc (tetrahydrocannabinol) free, which have the proper permits from the ministry of health.

This represents an opportunity for the country to make way for an industry that is growing rapidly. It is estimated that the world cannabis market – in general terms - could grow from us $ 12,000 million in 2019, to us $ 55,800 million by 2025.

In the country, the government has shown its interest in legalizing and regulating the cultivation of hemp and medicinal cannabis, as a key element for the reactivation of the economy. On the other hand, in the legislative assembly, bill 21388 presented by deputy zoila volio is being processed, for the same purpose.

Read more at menafn.com


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