CANNABIS INDUSTRY 2022: TRENDS, NEW MARKETS & CHALLENGES
The cannabis industry is changing quickly. What are the key trends for the next 12 months? Who will be in the driving seat across Europe? How quickly will legalisation in Germany begin to take effect? Can the US continue to boom without federal change?
In partnership with Always Pure Organics, join us live on 7 December at 16:00 GMT as we take a step back and look at the significant strides the cannabis industry has taken in 2021, as well as a pointed look ahead as to what is coming next (followed by a live Q&A).
Speakers include: Gavin Ogilvie (Founder & CEO, Always Pure Organics), Stephen Murphy (Co-Founder & CEO, Prohibition Partners), Clifton Flack (CEO, CiiTECH Group), Jordan Greenberg (CEO, Yooma Wellness) and Jay Rosenthal (Managing Director, Business of Cannabis).
MALTA BECOMES FIRST EUROPEAN COUNTRY TO REGULATE HOME CULTIVATION OF CANNABIS
THE EUROPEAN PARLIAMENT HAS VOTED TO INCREASE THE THC LIMIT IN HEMP TO 0.3%
- Over 181 NGOs sign petition calling for greater transparency from the INCB over its Cannabis Control Initiative.
- The French ANSM grants the first licence for agronomic and genetic research in the country to biotech start-up Overseed.
- Germany’s imports almost doubled in the first part of 2021 to just under 9,000 kg from the same period in 2020.
- Cannabis businesses in the UK will now have access to SEIS and EIS funds with UK investment company Óskare Capital.
- Denmark approves registration of the first locally produced cannabis extract by Little Green Pharma.
- Misinformation in the Netherlands sees patients buying cannabis at coffeeshops rather than under prescription.
- Lithuania introduces new cannabis laws legalising the domestic hemp market, though laws are still not EU compliant.
CANNABIS EUROPA LONDON: LET’S PUSH THINGS FORWARD IN JUNE 2022
As cannabis in Europe continues to push forward, so do we. Cannabis Europa returns to London in June 2022 for our biggest and most ambitious event to date – delivering cutting-edge knowledge and networking opportunities, paramount to driving growth across the sector.
The groundbreaking event will also feature our first ever cannabis industry expo, showcasing more than 50 leading businesses in a truly iconic location, and providing an even stronger platform for conversations and lead generation.
- New bill will see standardised cannabis testing in California to be introduced in January 2023.
- Study finds people aged 18–35 are 4 times as likely to frequently use cannabis than those aged 65+.
- US lawmakers push for changes to the NDAA to protect banks from penalisation when dealing with cannabis companies.
- Harborside announces business combination with Urbn Leaf and will be renamed as StateHouse Holdings.
- A US senator is pushing for hemp-based packaging as an alternative to synthetic plastic, to help boost the hemp industry.
- Cookies announces European expansion through its partnership with InterCure.
- Wisconsin Democrat lawmakers introduce bill to decriminalise cannabis statewide with Republican support.
- Kentucky lawmaker proposes to decriminalise possession, use and self-cultivation of adult-use cannabis.
- Survey finds 72% of chronic pain healthcare providers have been asked about medical cannabis.
- Bespoke Financial raises US$125 million to expand its lending capacity for the cannabis industry.
- The Minnesota Department of Health expands its cannabis programme to allow patients access to cannabis edibles.
GLOBAL HEMP PRODUCTION HAS TRIPLED SINCE 2017
Although hemp production fell 75% from its peak in the 1960s, to just over 100,000 tonnes per year in the 1990s, hemp is currently enjoying a revival with production tripling in the past few years.
The Industrial Hemp Report provides an overview of the industry and digs deeper into industrial uses of hemp, sustainable development, and the environmental benefits of hemp. For more insight on the industrial hemp industry, you can purchase the report as part of The Impact Series Bundle.
- Canada’s cannabis market continues downward trend with Cannabis LP Index recording drop of 5.5% in November.
- Greenway Greenhouse’s first quarter revenue comes in at C$1.5 million after first listing on the market in September.
- Avicanna brings NBA player Al Harrington’s cannabis company, Viola, onto the Canadian market.
- Seed & Stone becomes the first cannabis company approved to open a cannabis dispensary in the Delta council area.
- New Brunswick’s finance minister to allow more cannabis dispensaries, to combat black market sales in the region.
- Manitoba Métis Federation to form partnerships with the goal of medicinal cannabis research for chronic illnesses.
- Nextleaf announces its new Glacial Gold products will be available nationwide for medical cannabis patients.
- HEXO may be under investigation after link made between members of the Hells Angels and employee.
LATAM & CARIBBEAN
- The Jamaican government launches a campaign to fight cannabis stigma and promote the cannabis industry.
- Anvisa has approved its eighth cannabis-based product, which will be available through pharmacies on prescription basis.
- Discussions on Brazilian drug policy are preventing discussion on liberalising cannabis distribution and prescriptions.
- Barbados receives its first medical cannabis import from MediPharm Labs.
- The Costa Rican Constitutional Chamber passes a bill proposing the legalisation of medicinal cannabis and industrial hemp.
- The University of São Paulo introduces a new medical cannabis course to its curriculum.
- Argentin’as Institute of Judicial Affairs offers course on regulatory framework of the medicinal use of cannabis.
CURALEAF & B NOBLE ANNOUNCED AS BUSINESS OF CANNABIS: NEW YORK SESSIONS SPONSORS
We’re thrilled to announce that Curaleaf and B Noble are sponsoring the Business of Cannabis: New York Sessions event next week. The event is taking place at The Williamsburg Hotel in Brooklyn on Thursday, 9 December at 19:00.
Tickets are still available. The first Sessions event will include a conversation with Fab 5 Freddy and Khadijah Tribble to talk about the B Noble cannabis brand and the importance that brand plays in addressing social equity and social justice issues – especially as New York prepares for its adult-use legalisation roll-out.
- Court sets aside death sentence for Bangladeshi student who trafficked almost 4kg of cannabis into Malaysia.
- ECS Botanics signs agreement to supply Cannvalate with medical cannabis resin in a AU$4.9 million deal.
- Australian medical cannabis company to provide subsidised products to patients to combat medical cannabis inaccessibility.
- New Zealand’s cannabis industry continues growth with several companies entering into acquisition deals.
- Approximately 1,250 doctors and pharmacists in NZ sign up to medical cannabis resources and training platform.
- Legalise Cannabis NSW party calls on member registration in order to run in the next state elections.
AFRICA & MIDDLE EAST
- InterCure predicts revenue of up to £59 million after reporting record sales in its third quarter of 2021.
- Israel’s IMC Cannabis acquires Oranim, making it one of the leading distributors of medical cannabis in the country.
- BOL Pharma breaks records in Israel, showing the highest profits recorded by an Israeli cannabis company.
- The UAE relaxes penalties for travellers arriving in the country with products containing THC.
- Israel’s 105,000 medical cannabis patients are now entitled to 4 tons of medical cannabis per month.
- South African company makes first export to Brazil and receives SAHPRA approval to launch three products to treat anxiety.
- Agriculture technology company Roots to enter South African cannabis market after signing deal with Cherry Irrigation.