International Cannabis Weekly: 238
NEW YORK RULES TO ALLOW PEOPLE WITH CANNABIS CONVICTIONS FIRST ACCESS TO THE MARKET
On Thursday, New York regulators advanced a rule to make it so people with prior cannabis convictions, or whose family members have been harmed by criminalisation, will get the first round of adult-use cannabis retailer licenses—ahead of existing medical cannabis businesses.
The development is one part of what Gov. Kathy Hochul’s administration is calling the “Seeding Opportunity Initiative,” which she also announced on Thursday.
WHO RELEASE ITS FIRST SCIENTIFIC REVIEW OF MEDICAL CANNABIS
COSTA RICAN CONGRESS PASSES A BILL TO LEGALISE MEDICAL CANNABIS
- Tighter regulation and the banks refusal to deal with CBD brands could lead to the market shrinking in Europe.
- The French government has issued a decree that authorises the cultivation of medical cannabis.
- Cannacasa requests the Portuguese government to suspend tighter hemp restrictions.
- Aardachtig has obtained a license from the Dutch government to legally grow adult-use cannabis.
- UK FSA admits it could have better anticipated the surge in cannabidiol applications.
- Smaller EU cannabis firms are merging with larger competitors in order to survive the challenging business environment.
- Unlisted FSA CBD products could soon be removed from UK shops unless they are validated.
- The Maltese Nationalist leader says his party would amend and not repeal cannabis legalisation.
GLOBAL VIEW: WEED ON THE WORLD STAGE
Four major sectors of the cannabis market are poised to dominate the worldwide stage: industrial hemp, CBD wellness, medical cannabis and the adult use/recreational market.
In this session, Prohibition Partners CEO Stephen Murphy will join panellists from Weedmaps, Jushi and Poseidon Asset Management to discuss how regulations are predicted to evolve, how they might impact trade and politics, and the friction between industrial, medical and adult-use. The panel will also discuss which countries will emerge as cannabis cultivation centres and innovation hubs.
- A Pennsylvanian firm becomes the first to cultivate cannabis specifically for medical research.
- According to BofA Securities, cannabis sales grew by 40% in 2021 to US$25 billion.
- The majority of Americans support a bill freeing up banks to work with cannabis firms without penalties.
- The nation’s first hemp study reveals that the crop’s value is US$824m and US$62m in California.
- Since 2019 cannabis sales have risen by 3.3% amongst women, accounting for 38.3% of sales nationwide.
- Flora Growth announces it has completed its first shipment of CBD products from Colombia.
- The Maryland House of Delegates pass a bill that means adult-use legalisation will be on the ballot in November.
- The sale of recreational cannabis in Montana increased in February, despite a fall in medical cannabis sales.
- RYAH Medtech has secured a medical device licence for its medical cannabis inhaler system.
- The Canadian arm of Village Farms reports revenue and profit ahead of expectations.
- Tilray Brands’ CEO claims he is going to do everything in his power to improve Canadian cannabis legislation.
- After the introduction of new legislation, High Tide launches its cannabis delivery on demand programme.
- Tetra Bio-Pharma gets Health Canada’s approval to use 100mg of CBD in a cannabidiol safety study.
- Cannabis producers in Alberta say that the new 6% markup imposed will hit producers hard.
- High Ride Inc. has purchased cannabis stores in Stratford, Hanover, Markdale and Woodstock for C$2.5 million.
- Sugarbud has launched its first cannabis 2.0 product in Ontario with up to 70% THC.
LATAM & The Caribbean
- The first shipment container of hemp-derived products has landed in Costa Rica.
- The Guyana government is due to hold talks encouraging cannabis growers to utilise their skills to grow industrial hemp.
- Argentina’s President, Alberto Fernandez, asks to resume the project to industrialise medical cannabis and hemp.
- The first medicinal cannabis plant in Ecuador, AYA Natural & Medical Products, has started production.
- Greenfern Industries looks to corner Australia’s over-the-counter CBD medication market.
- Public health officials state that cannabis is being used as a strategy to lure tourists back to Thailand.
- Public Health Minister is set to begin cannabis tours to educate the public about uses laws.
- AusCann focuses on pet market, preparing the launch of its CBD range for dogs.
Africa & The Middle East
- Changes to proposed legislation allowing for an adult-use cannabis industry in South Africa have been tabled.
- The Constitutional Court in Pretoria will hear arguments on the decriminalisation of cannabis for children.
- The South African Farmers Development Association welcomes the appointment of a provincial cannabis committee.
- Growing cannabis for medical purposes is now allowed in Morocco in three northern states.
- Israelis who have been convicted for cannabis use are submitting requests to have their criminal records erased.
On the global cannabis industry
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