International Cannabis Weekly: 270

DOWNLOAD YOUR COPY OF THE ASIAN CANNABIS REPORT: 2ND EDITION

Cannabis is undergoing a process of re-liberalisation in Asia, where the damaging drug control policies, which have been pushed for decades, are receding in favour of more sensible, supportive and economically sound policies.

While countries such as India, South Korea, China and Japan still face regulatory hurdles from their respective governments, there are burgeoning opportunities for commercialisation in exports – and even loopholes that allow for certain businesses to operate and thrive.

In this report, Prohibition Partners and Teera Group explore the cannabis regulations and market developments in the most populous continent in the world, uncovering unique challenges and opportunities across various countries in Asia.

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KEY POINTS OF GERMANY’S EARLY REGULATION PROPOSAL LEAKED

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UBER EATS TEAMS UP WITH LEAFLY TO DELIVER CANNABIS IN TORONTO

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• Fears over supply issues could leave Germany’s adult-use market in the starting blocks.
• The one-year extension to France’s medical cannabis trial is currently being debated in the French parliament.
• Neuraxpharm has announced its ‘change for health’ campaign, which aims to promote medicinal cannabis.
• Luxembourg officials meet with Dutch ministers to discuss experiences of the regulated supply of cannabis.
• Cannabis Health have been named the ‘Best CBD Magazine’ at the World CBD Awards 2022.
• A study on using CBD products for pain management has been selected for presentation at the IACM conference.

• Gov. Kevin Stitt confirms that Oklahoma is set to vote on legalising recreational cannabis.
• The White House drug czar has stated that decisions made on cannabis should filter into criminal justice.
• Pennsylvania officials announce that they will be providing US$200,000 to promote the state’s hemp market.
• Michigan cannabis sales rose 2% in September and have increased 31.4% from a year ago.
• Cannabis sales across most US states with legal programmes declined subsequently in the third quarter.
• Cannabis is coming to Circle K gas stations next year which will begin with 10 stores in Florida.
• Flower One Holdings Inc. has taken the decision to commence CCAA proceedings.
• Washington D.C. Mayor signs a bill to allow tourists to self-certify for medical cannabis.
• The city of Detroit has received 90 applicants for the 60 recreational cannabis licences.
• A Louisiana panel will examine the benefits of protecting legal medical cannabis patients on the job.

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The New York cannabis market is reaching a critical moment which will define its future. From decision-making regulators actively working on shaping who will and who won’t be part of it, through to the investors funding the businesses set to become key cannabis retailers – this is the most crucial platform for those looking to navigate, and succeed in, this hugely exciting newly legal state.

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• The process of legalising adult-use cannabis in Germany draws US and Canadian investment.
• Avicanna introduces a medical cannabis educational online portal for healthcare professionals.
• Four years on from legalisation, legal cannabis sales are now ahead of illicit sales.
• Monthly recreational cannabis sales hit C$395 million in July, over half the size of beer sales.
• Struggling businesses in Canada are urging Health Canada to review the Cannabis Act as soon as possible.
• Fire and Flower has announced that it has entered into a loan agreement for C$16 million.
• Neptune Wellness has reached an agreement with PurCann Pharma to purchase assets for C$5.15 million.

• The Federal Public Ministry in Brazil has asked for a review of the CFM resolution that restricts the use of cannabidiol.
• Dr Claudio Lottenberg says that doctors will be able to continue prescribing cannabis in Brazil.
• The Cannabis Confederation is demanding that there are no more cannabis arrests in Argentina.
• 200 plants have been harvested for medicinal oil in Santa Fe, Argentina, for both manufacture and for research.
• The Dominica government says it expects to establish a cannabis industry by 2023.
• The changing legislative landscape for cannabis in Colombia presents an opportunity for Flora Growth.

• The full programme has been released for the Australian Cannabis Summit later this month.
• UzCanna Ltd has become the first company to legally import cannabis seed into Uzbekistan.
• Australis Capital Inc has successfully completed its first harvest of adult-use cannabis in New York state.
• Jamaica firm Itopia Life Ltd has expanded its international cannabis brand to Canada.

To complement the recently released Asian report, we have two premium packages available. The first is Prohibition Partners’ proprietary market sizing data, which includes country-by-country forecasts of the medical, CBD and adult-use cannabis markets in Asia.

Market sizing forecasts are provided for countries in Asia, including: Japan, Taiwan, South Korea, Thailand, India, Malaysia, Nepal & Sri Lanka. The second package is a 20-page supplement to the main report entitled ‘Business Insights into the Thai Cannabis Market’. Both can be purchased for £990.

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• Israel’s Ministry of Health has granted BYND Cannasoft an initial approval to engage in medical cannabis.
• Eden Pharma Ltd has recently acquired a 5,000-acre site in Uganda for cannabis research and development.
• Despite Joe Biden’s presidential pardon for minor possession offences, cannabis stocks in Israel have not moved.
• Celebrated Nigerian Afrobeats artist Burna Boy has ventured into the cannabis industry with his own brand.