The Ecuadorian government has greenlighted the country’s first hemp crop under a cooperative initiative among two companies and the Latin-American Industrial Hemp Association (LAIHA).
LAIHA member Green and Growth, Quito, and Nobis Holding de Inversiones, one of the largest holding groups in Ecuador, say they will initially grow hemp on 100 to 1,000 hectares, with fields and processing scaling up, and investment growing to $25 to $50 million starting in 2025.
‘Global commitment’
“Among the main objectives of this initiative is to position the country as one of the economies that join the global commitment to the production of sustainable materials and resources,” said Jaime Gómez, Executive Director of Green and Growth, who noted the operation “will generate hundreds of jobs.”
Growers in Ecuador have primarily cultivated cannabis flowers, which are being exported.
Read more at Hemp Today