International Cannabis Weekly: 336
February 9, 2024
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NEW YORK CANNABIS FARMERS COULD THROW AWAY 250,000 POUNDS OF PRODUCT DUE TO LACK OF RETAIL STORES
Farmers cultivated enough cannabis this past summer and fall to supply 1,500 stores, yet barely 50 legal dispensaries have opened.
UKRAINIAN HEALTH MINISTER LOOKS TO GERMANY FOR LEGALISATION INSPIRATION
CURALEAF INTERNATIONAL EXPANDS POLISH PRESENCE WITH ACQUISITION OF CAN4MED
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Europe
- A citizen’s initiative for cannabis legalisation in Finland gathers momentum with over 50,000 signatures.
- Rokshaw announces exclusive distribution partnership with ECS Botanics for EU-GMP product range.
- Relocation plans of cannabis trial grower in the Netherlands raises questions from provincial officials.
- Akanda inks revised Letter of Intent with SOMAÍ Pharmaceuticals for sale of its Portuguese subsidiary.
- Insights from the 6th annual Cannabis Invest UK Conference: “The Turning Point Is Happening”.
- New study reveals that over one-third of Danish pet owners administer CBD to their dogs.
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Stocks
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United States
- Speculation mounts that rescheduling decision could be ‘imminent’, but government denies rumours.
- U.S. cannabis industry thrives with projected US$40 billion in revenues, despite lack of federal oversight.
- Minnesota City Council considers opening state’s first government-operated cannabis store.
- Virginia House Committee advances cannabis sales bill to floor vote, as Senate considers competing measure.
- Pennsylvania governor urges legislature to pass cannabis bill, aiming to match Ohio’s progress.
- Federal judge thwarts attempt to halt New York’s cannabis licensing process again, but legal challenges mount.
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New Event
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Canada
- Canada’s federal Cannabis Act is on schedule to release its review and recommendations this spring.
- Canada’s cannabis production bounced back in second half of 2023 after seven-month decline.
- Sister company of Pure Sunfarms granted approval to construct cannabis greenhouse in the Netherlands.
- Montreal’s Cannara Biotech sets record with CA$19.5M first-quarter sales, an 89% increase compared to last year.
- Winnipeg police launch cannabis education programme to raise awareness about drug-impaired driving.
- Jones’ Soda partners with Tilray to introduce THC-infused sodas in Ontario, with further expansion planned.
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New Data
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LATAM & The Caribbean
- Linnea SA and Brazil’s UNICAMP announce scientific partnership to promote cannabinoids research.
- The Institute for Cannabis Regulation and Control in Uruguay has reported an increase in cannabis prices.
- Cannabis regulation is among legislative priorities in Mexico, according to Senator Ana Lilia Rivera.
- Cannabis sales doubled in 2023 at Uruguayan pharmacies after introduction of higher-THC products.
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APAC
- New South Wales launches initiative to investigate industrial hemp’s role in achieving net-zero circular economy.
- Thailand plans to prohibit adult-use cannabis over concerns of potential wider drug issues.
- Australian MP says government can’t ignore calls for drug-driving law reform after 11,000 sign petition.
- SOMAÍ Pharmaceuticals introduces U.S. award-winning Airo Brand to Australian and European markets.
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Africa & The Middle East
- Patient surge in Israel with now more than 140,000 obtaining licences for personal cannabis use.
- Israel’s largest cannabis company, Intercure, acquires full ownership of five Leon Pharm branches.
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