International Cannabis Weekly: 352
June 7, 2024
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THC LIMITS FOR DRIVERS AND CULTIVATION REGULATIONS UPDATED IN GERMANY
The German Bundestag has voted to pass a string of amendments to its landmark cannabis act, just two months after it was officially implemented.
JAPAN PUBLISHES DETAILS OF PROPOSED THC LIMITS FOR INCOMING CANNABIS MARKET
ITALIAN HEMP ASSOCIATIONS CALL FOR EU INTERVENTION ON PROPOSED CBD FLOWER BAN
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Europe
- Cannabis regulation and THC driving limits under scrutiny in Bundestag hearings ahead of important vote.
- Chill Brands CEO reinstated as directors ousted, plus Voyager sees second deal fall through.
- The majority of earnings from illicit cannabis sales in the Netherlands (€1.4 billion) remains in the Dutch economy.
- Recently published data shows significant growth for the medical cannabis market in Poland since 2017.
- Luxembourg will post a tender for an official medical cannabis supplier this year due to ongoing supply shortages.
- A new UK task force will set out the country’s first comprehensive strategy for cannabinoid R&D.
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European Cannabis Stocks
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United States
- Green Thumb Industries confirms recent rumours it has pitched a merger with Boston Brewery.
- Adult-use cannabis legalisation is set to go to the ballot box for the third time in South Dakota this November.
- Ohio’s medical cannabis sales fall across the board as the state prepares for its adult-use rollout.
- Florida governor could become unlikely saviour of the state’s hemp industry as reports say he will veto controversial bill.
- Adult-use cannabis sales in Illinois were down 2.9% sequentially to US$144.5 million in April this year.
- New Hampshire House lawmakers offer senators a cannabis legalisation compromise at committee meeting.
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Canada
- Canopy Growth doubles down on its USA strategy, announcing exercise of Acreage Holdings options.
- Health Canada issues a recall for cannabis products containing undeclared intoxicating cannabinoid, HHC.
- Canadian cannabis retail chain Four20 Premium Markets has announced plans to file for bankruptcy.
- Bill 34 passes in Manitoba, meaning adults will soon be allowed to cultivate up to four plants at home.
- Village Farms announces it has increased its ownership of Quebec-based Rose LifeScience Inc. to 80%.
- Just 845 people have been pardoned for cannabis crimes in Canada since 2019, despite the federal forecast being 10,000.
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LATAM & The Caribbean
- The first female president of Mexico, Claudia Sheinbaum, advocates for the decriminalisation of adult-use cannabis.
- While doctors in Barbados can prescribe medical cannabis, there’s still a stringent legal process.
- Governor of Corrientes in Argentina confirms the first export of medical cannabis flower to Switzerland.
- Specialists in Argentina have designed quick-release energy storage devices using medical cannabis industry waste.
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APAC
- Greens pledge to press on with the bill to legalise adult-use cannabis in Australia despite senate committee rejection.
- Tasmanian Botanics, Kind Medical, and Biortica Agrimed win big at the Cannabiz Awards 2024 in Australia.
- Investors will ‘lose millions’ if Thailand backtracks on industrial hemp and cannabis, trade group says.
- Pharma Hemp maintains positive outlook on CBD opportunities in APAC’s beauty market despite regulatory fluctuations.
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Africa & The Middle East
- The African country of Eswatini, formerly known as Swaziland, has introduced legislation to legalise medical cannabis.
- IM Cannabis Corp. announces significant growth in its EU-GMP German subsidiary, Adjupharm GmbH.
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