International Cannabis Update: Germany Record Imports, Thailand Encourages Cultivation, Norway Drug Decriminalization

Germany Imports Record Volume Of Cannabis Flower

During the last quarter of 2020, Germany has imported the record amounts of cannabis flower (on a quarterly basis) or 3,264 kilograms. (h/t Prohibition Partners)

For the full 2020, the country has brought in 9,249 kilograms, experiencing a 36% year-over-year growth in imports, according to the Federal Institute for Drugs and Medical Devices (BfArM).

While the quarterly import has hit the all-time high in Q4, year-over-year growth has significantly fell compared to the previous years, as the country had 100% growth year-over-year in 2018 and 2019.

Import levels shouldn’t be taken as the one or the most important parameter when analyzing the development of a cannabis market, as they are “subject to fluctuations.”

One of the most important changes when it comes to cannabis imports in Germany is its shift from Canada and the Netherlands to other countries. While previously Canada and the Netherlands met most of the needs of the German cannabis market, now other countries, such as Uruguay, Spain, Israel, Portugal, and Australia are slowly starting to take their part.

It is expected that in the close future, Germany would import far more from those countries with cheaper production expenses, such as Portugal and Uruguay.

What’s more, the first medical cannabis products grown and produced domestically in Germany should hit the shelves by March. They should offer a minimum of 2,600 kilograms of medical cannabis per year.

Thailand Government Says Cannabis Is Its ‘Next Cash Crop’

Back in February 2019, Thailand legalized medical cannabis use.

Last year, the South Asian country delisted specific cannabis and hemp parts from its narcotic list.

Now, the Thailand government has decided to encourage cannabis cultivation advertising it as a “cash crop” that would help farmers increase their earnings. (h/t Bangkok Post)

“Everybody has the right to grow marijuana by partnering up with provincial hospitals for medical use,” deputy government spokeswoman Traisulee Traisoranakul said.

Those who are interested must first ask for authorization from the officials.

“So far, 2,500 households and 251 provincial hospitals have grown 15,000 cannabis plants,” she said. “We hope that cannabis and hemp will be a primary cash crop for farmers.”

Others considered eligible to ask for cannabis cultivation licenses count universities, medical professionals, and community businesses.

Norway Government Proposes Drug Decriminalization

Norway officials recently presented a bill that decriminalizes the consumption and possession of small amounts of narcotics (h/t France 24).

The idea behind the bill is to offer help to those who are using illegal substances instead of just punishing them.

"Decades of repression have taught us that punishment doesn't work. On the contrary, punishment can make things worse," Education Minister Guri Melby said at a press conference. "Drug addicts need help, not punishment."

The new bill states that anyone caught using — or having small amounts of — cannabis, heroin or cocaine to ask for help, instead of facing a criminal penalty.

"They are still forbidden, but no longer punishable," Health Minister Bent Hoie said.

For each substance included comes a specific threshold for what counts as a ‘small amount’. For example, 10 grams of cannabis is considered a small amount, while for heroin, cocaine, and amphetamines, the amount shouldn’t exceed two grams to be considered small.

The current regulatory system in connection with drugs is counterproductive as it discourages addicts from asking for support, the bill states.

Opponents of the measure say the new bill could empower drug use.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.