Ecuador: losses from the sale of roses compensated by the sale of cannabis
The pandemic will have had a huge impact on the global economy, causing the decline of several markets. It is in Ecuador for example that a certain blow was struck to the floriculture sector, especially for the growth of roses.
Concerned about the country's economy, they decided to plant hemp seeds on the land originally used for rose production, hoping that the sale of CBD products could make up for the loss of money. This is how the Boutique Flowers farm located in Tabacundo set up the construction of cannabis greenhouses. This production is completely legal, in accordance with the reforms implemented in the country.
Marijuana is still prohibited, however, with a tolerance of only 1% THC for the CBD marketed. Klaus Graetzer, manager of the Flowers store, speaks about the difficulties he has experienced: "The project was born in difficult times. During the pandemic, the flower industry was hit hard. We saw the opportunity to take advantage of this new regulation.
Thus, it took the decision to reduce its production of roses by 37% to make room for the production of hemp. Following an 8% drop in exports the previous year, there is great hope that the expansion of the CBD market will eventually lead to a recovery of the country's economy.
Felipe Norton, director of CannAndes says that "The idea is to succeed in exporting smokable CBD flowers to Switzerland as it is the biggest market for this flower. Given the experience we have with flowers, it is a good opportunity. The beginning of the export is thus planned for two years.
A perspective of evolution and new jobs are opened to Ecuador, "we have the climatic and pedological conditions to make the culture, but it will be the demand which will dictate the level of the offer" declares the vice-minister of the country.