The Costa Rican Foreign Trade Promoter (PROCOMER), pointed out in its most recent study, “Characterization of international commercialization alternatives for industrial Hemp that, “there are comparatively favorable indicators for the Costa Rican commercialization of products derived from CBD (or Cannabidiol , the non-psychoactive element in cannabis)”.
There are comparatively more favorable indicators for the marketing of products with CBD application in goods such as supplements, topical solutions, food and beverages.
Although the cultivation associated with the extraction of CBD requires a higher initial investment, other indicators favor it, such as a greater intensity of labor and better profitability, as long as the adequate yields per hectare are achieved.
The idea of the study was to identify the segments of Hemp by-products in which Costa Rica could enter international markets, in the midst of the discussion on the use of Hemp for industrial and food purposes in the country and was carried out at the request of the Presidency of the Republic that has already made executive presentations of its results to the deputies of the Legislative Assembly.
According to PROCOMER, both CBD and Hemp have a good scenario because, “there is potential for Hemp in grain, which can also be used in food supplements or direct consumption of the seed, given its high nutritional value”.
The production of grain, compared to that of CBD, is less labor intensive and profitable. The third productive option highlighted by the study is fiber, which has applications in bioplastics, textiles, hempcrete and biofuels, it has the lowest profitability and labor intensity, it is also classified as a low price market due to the important involvement of China.”
A promising market
PROCOMER pointed out that with the canon, Costa Rica could enter the bioplastics and sustainable construction market; foods like dairy, bakery products, seeds, and snacks; personal care products like soaps and lotions; and textiles such as clothing and uniforms; However, it was urgent to regulate the use of the plant in the country.
Before opting for any of the forms of cultivation of the above by-products, the country must have regulatory clarity such as health records, labeling standards, traceability, permitted THC levels, etc. In addition, agro-productive characteristics such as the ideal seed variety for the climate must be assessed, as well as the regions where it is best adapted for production, valuing the yields according to the type of crop that is to be developed.”
The commercialization of industrial Hemp has had a boom in recent years, for example, in 2020, the market for CBD products such as supplements and beverages is estimated at $ 1,928 million with a growth of 57% in the 2016-2020 period.
The textile market, meanwhile, is estimated at $ 1,248 million with an increase of 7% (mostly occupied by China), that of industrial applications such as bioplastics and sustainable construction in $ 1,099 million and an increase of 16%, that of personal care at $ 477 million and + 9%, while food at $ 432 million and + 13%.
In the world there are large producers of Hemp, China, Canada and within the European Union, France, Holland, Estonia, Germany, Italy and Lithuania stand out. In Latin America, for its part, industrial Hemp production is advancing in countries such as Colombia, Uruguay, Ecuador and Paraguay because they have already established a regulatory framework for cultivation.