Prohibition Partners are proud to announce the publication of the Oceania Regulatory Report today. This report provides a current regulatory overview of the Australian and New Zealand cannabis markets, as of January 2024.
The regulatory frameworks that Australia and New Zealand have developed for their respective legal cannabis industries share some top-level similarities; however, there are key differences, which could become more pronounced in the medium term as the two systems evolve.
On the question of adult-use, New Zealand opted for an all-or-nothing popular referendum for full-scale legalisation in 2020, which, upon rejection, has rendered the development of an adult-use regulatory framework unlikely for the foreseeable future. Australia meanwhile has seen a groundswell in public opinion on the issue, manifesting into legislative steps taken by representatives at the regional and federal levels, and is likely to see an adult-use market develop incrementally in the coming years.
On CBD, in contrast to most countries with significant medical cannabis access, both have taken the approach that the cannabinoid should be accessed via medical channels only, though both have recently passed legislation to make CBD products containing a low dose of THC more easily accessible than other higher-THC cannabinoid products.
The two countries are undertaking reforms to their medical cannabis regulations that are the inverse of each other – New Zealand to lower the product quality standards required of domestic producers in order to export from the country, and Australia to raise the product quality standards required of international producers in order to import into the country.
Both of these efforts at reform are taken with the same goal, to level the playing field between domestic and international producers of medical cannabis. These reforms could result in Australian and New Zealand producers becoming more competitive in the context of the global cannabis industry, and are significant for any company involved in either country.
Available alongside the report is a newly-released Oceania product dataset that includes: Licensed Cultivators & Producers (AUS), Licensed Importers (AUS), Products & Pricing (AUS), Products & Pricing (NZ), Licence Holders (NZ), Market Sizing 2023-2027 (AU & NZ). Available now for just £449.
Lead sponsor of the report is WEED Australia Ltd., a subsidiary of WEED, Inc. WEED Australia Ltd.’s corporate strategy is to use its proprietary research, medical patents and clinical trials to create unique medical products and services for the treatment of human and animal diseases in Australia.
Other sponsors of the report include: Cannavigia, Europe’s pioneer compliance software for businesses to trace, secure and simplify transactions along the entire cannabis supply network; ECS Botanics, an Australian medicinal cannabis cultivator and manufacturer; ACannabis, a conference hosted by Medicinal Cannabis Industry of Australia (MCIA); and Cannabiz, a media platform dedicated to the growth of Australia’s legal cannabis industry.
The Oceania Regulatory Report is now available to download for free. Get your copy by clicking here. For more information about the Oceania product dataset, click here.
