International Cannabis Business Conference Blog – Page 90 – International Cannabis Business Conference

Individual In Hong Kong Faces Up To 7 Years In Prison For Bottles Of CBD Products

Written by Johnny Green on February 10, 2023. Posted in Policy.

Law enforcement officials in Hong Kong have made their first CBD-related arrest since a new law took effect at the beginning of this month. Starting at the beginning of February, all CBD products became prohibited in Hong Kong, with CBD now being classified at the same level as heroin and methamphetamine in the jurisdiction. Hong Kong was recently home to one of the most thriving CBD industries on the planet, however, most CBD companies closed in the lead up to the new law’s implementation.

The first man to face charges in Hong Kong under the new prohibition law was not reportedly selling CBD products. Rather, he had reportedly ordered a couple of bottles of ‘CBD skin oil’ from Denmark and was arrested when he was going to pick up the parcel containing the bottles. From there authorities searched a locker at a clubhouse that allegedly belonged to the individual, and in the locker was more ‘CBD skin oil,’ along with four grams of flower. It’s unclear at this time whether the flower involved was floral CBD hemp or flower that contained THC. Regardless, the individual is now facing potentially up to seven years in prison, and having to pay a fine of up to HK$1 million.

Why Would A Government Ban CBD?

As of the posting of this article, a search on PubMed.gov for the term ‘CBD’ yields over 10,500 results of peer-reviewed studies, many of them demonstrating that CBD is indeed effective at treating various ailments and conditions. PubMed houses the results of peer-reviewed studies from all over the world and is accessible to anyone with internet access. Many of the studies on PubMed that involve CBD have also found that the cannabinoid does not induce intoxication, unlike its cannabinoid counterpart THC.

Yet, despite it’s established wellness benefits and lack of inducing intoxication, CBD is still banned in Hong Kong, and at least one person is having their life ruined because of a new prohibition policy there. CBD products are bought and sold legally in many parts of the world now, and no meaningful public health issues have surfaced as a result. Thailand is a great example of CBD products being widely available and frequently consumed by people, and the sky remaining intact. Hong Kong prohibiting CBD is ridiculous, and penalizing people to the tune of up to 7 years in prison is even more ridiculous.

A Reminder Of The Need For Advocacy

The arrest in Hong Kong is truly unfortunate, and serves as yet another reminder that cannabis advocates still have a lot of work to do to ensure that no one is subjected to a nation’s criminal justice system due to cannabis. Cannabis prohibition is a failed public policy, and that is true in Hong Kong just as it is true anywhere else. A public policy prohibiting CBD is particularly shameful.

If you live in Hong Kong or have plans to travel there, proceed with caution. As one person is already unfortunately learning, law enforcement officials in Hong Kong are not going to take any cannabis activity lightly. If ‘CBD skin oil’ is resulting in someone facing potentially the better part of a decade in prison, it’s likely safe to assume that there will be zero tolerance for any cannabis possession of any kind.

Will Malta’s Cannabis Club Model Be Adopted By Germany And Spain?

Written by Johnny Green on February 9, 2023. Posted in Business, Policy.

In many ways the European continent seems like it is on the cusp of hitting warp speed for cannabis policy reform, and if so, a potential rapid spread of the legal cannabis industry could be on the horizon. The most noteworthy evidence of this can be found in Germany right now, where an adult-use legalization measure is expected to be introduced in the first quarter of this year. Once the measure is formally introduced in Germany it will likely be followed by similar measures being introduced in other European countries. Malta may not have as much political clout as Germany, however, its approach to cannabis clubs and adult-use regulation will also likely have a large butterfly effect on its continental peers whether people realize it or not.

In late 2021 lawmakers in Malta passed an adult-use cannabis legalization measure. It was the first time since the start of cannabis prohibition that a European country passed a national cannabis legalization measure that did not involve any limits on THC content for consumers over 21 years old. Only two other countries on the planet passed such measures prior to Malta doing so (Uruguay and Canada). Malta’s legalization model involves allowing people of legal age (18 or older) to possess up to seven grams of cannabis and for adult households to cultivate up to four plants per residence. Consumers that do not cultivate their own cannabis will eventually be able to make purchases at non-profit cannabis clubs, and the proposed approach to regulating cannabis commerce in Malta via non-profit clubs could become a blueprint for other European countries to copy in the near future.

The Malta Model

Starting on February 28, 2023, aspiring non-profit cannabis club operators can apply for a license through Malta’s Authority for the Responsible Use of Cannabis (ARUC). Regulations for such clubs include (but are not limited to):

A maximum of 500 club members
Cannot be located within 250 meters of a school or ‘youth center’
No advertising
Cannot use the word ‘cannabis’ in the club’s name, or anything that would ‘incite use’
At least two club founders with no prior convictions of money laundering
Clubs must have a legal representative
Club administrators have to be residents for at least 5 years
All cannabis has to be cultivated by the club itself (out of public view)
Registration fee of €1,000
License fee starting at €8,750
Initial licenses valid for 1 year, with 3 year renewals
Labeling requirements
Ongoing government auditing
Product testing
THC percentage caps for consumers 18-20 years old
Consumers can only have a membership at 1 club at a time
Revenue dispersal requirements

It still appears to be up in the air as to whether people will be able to consume cannabis on-site at the cannabis clubs, and while the current rules are fairly extensive, it’s always possible that they could evolve over time. After all, these new rules and regulations in Malta are brand new to the world by many measures, and there will no doubt be a need to tweak things as time goes on.

Will Germany And Spain Adopt Malta’s Approach?

Now that Malta is rolling out its legal cannabis commerce model, two countries that are of particular interest to me from a cannabis public policy standpoint are Germany and Spain, as they seem to be the European countries that will benefit the most from a ‘Malta butterfly effect.’ Make no mistake – Germany is on its own path towards legalization, and regardless of what is going on in Malta, the process for German legalization will continue. However, whether Germany will eventually have cannabis clubs and/or allow social use is unclear at this time, and it’s feasible that a successful rollout of clubs in Malta could encourage Germany to incorporate aspects of Malta’s legalization model as it pertains to those types of entities.

Spain, in my opinion, is much more likely to experience a cannabis public policy butterfly effect from what is going on in Malta compared to Germany. Spain is already home to numerous private cannabis clubs, albeit unregulated ones, and so it’s much more of an apples-to-apples comparison. Many, if not all, of the non-profit club provisions that are being adopted in Malta could also be adopted in Spain if lawmakers were willing to make it happen. Malta has quite literally provided Spain with a blueprint of how to regulate non-profit cannabis clubs. Of course, enough time will need to go by in order to know that the current regulations are sensible, but Malta’s approach is already better than Spain’s in that a formalized approach actually exists and is being implemented.

Malta may not have a huge economy or enormous population, yet, its approach to regulating cannabis commerce is historic in many ways, and the significance of the approach cannot be overstated. Being the first country on a continent to regulate adult-use cannabis commerce at a national level is not easy. After all, there is no guidebook for such an endeavor other than what has gone on in Uruguay and Canada, and even strategies from those countries aren’t always applicable on the other side of the Atlantic Ocean. A successful launch in Malta would be a win not just for consumers within Malta’s borders, but also potentially for consumers across the European continent.

future of global cannabis industry panel icbc berlin 2022

Who Attends International Cannabis Business Conference Events?

Written by Johnny Green on February 7, 2023. Posted in Business, Entertainment, Policy, Science.

The International Cannabis Business Conference is the world’s largest global B2B cannabis event series, with upcoming events occurring in Barcelona on March 9th, the Global Investment Forum in Berlin on June 27th, and the series’ flagship B2B event in Berlin on June 29-30th. Tickets are available at Internationalcbc.com. Below are the types of individuals and entities that attend International Cannabis Business Conference events.

Entrepreneurs

Success in the business world, particularly at the international level, is far from automatic. The list of what it takes to be successful is exhaustive, however, at the top of the list is timing. The right timing can mean the difference between an entrepreneur going on to build one of the world’s next great companies or having to close operations.

Timing is particularly important in the international cannabis industry with everything evolving so quickly and market leaders being located all over the planet. The International Cannabis Business Conference brings true leaders and experts from all over the globe to its events to make learning and networking easier for aspiring international cannabis entrepreneurs.

Investors

The emerging legal international cannabis industry is still largely in its infancy, and that creates tremendous opportunities for investors. It’s very rare for an industry with as much profit potential as the international cannabis industry to essentially start from scratch. The cannabis brands and inventions that will reap financial gains far into the future are currently looking for capital and effective guidance to help scale operations, and investors that network with them in the proper setting at the right time will be significantly rewarded.

International Cannabis Business Conference events are attended by innovators from all over the world, with industry disrupting concepts and technology debuting at past conferences. International investors that are also in attendance benefit from seeing what opportunities are currently out there in the international cannabis space, as well as benefit from learning from global cannabis experts regarding industry and regulatory trends.

Policymakers

An important aspect of International Cannabis Business Conference events is providing a platform for cannabis policymakers and regulators from all over the planet to discuss reform efforts. By facilitating meaningful discussions between leaders from several jurisdictions, the International Cannabis Business Conference is moving cannabis reform efforts forward at the national, continental, and international levels.

One of the many examples of that can be found in Germany where the International Cannabis Business Conference holds its flagship event every year. Several public policy concepts and ideas that were initially proposed and discussed at the International Cannabis Business Conference in Berlin have since become part of the mainstream political conversation as Germany continues its push towards adult-use legalization.

Industry Service Providers

The industry service provider sector of the emerging cannabis industry can be particularly difficult to navigate at the international level, with every jurisdiction and market having their own sets of laws and regulations. To make matters even more difficult for industry service providers, many of the regulations are constantly evolving. Fortunately, every new market that becomes legal creates new opportunities for industry service providers, and for those that are properly educated and establish the right networks, leveraging those opportunities can yield tremendous financial success. Industry service providers from all over the world directly benefit from attending International Cannabis Business Conference events.

Entertainers

It would not be an International Cannabis Business Conference event without world class entertainers in attendance. Numerous celebrities from television, music, film, and professional sports have presented and/or performed at International Cannabis Business Conference events, including at the International Cannabis Business Conference’s infamous event after-parties. Three-time Grammy award-winning reggae band Morgan Heritage kicked off its last European tour at the International Cannabis Business Conference in Berlin last year, and it’s just one of the many examples of the level of entertainment that is present at the events.

Media

The International Cannabis Business Conference events are attended by representatives from top international media outlets, with some media representatives also participating on panels. Presentations from the International Cannabis Business Conference regularly generate headlines in leading mainstream and cannabis media outlets involving dozens of languages, proving once again that the International Cannabis Business Conference is where the world meets cannabis.

Media And Marketing In The Emerging International Cannabis Industry

Written by Johnny Green on February 7, 2023. Posted in Business, Entertainment, Policy.

Nearly every business in every industry on the planet needs to market their products and/or services to some degree in order to succeed. After all, how else would potential consumers and clients know about the business’ offerings?

When it comes to marketing, not all industries are created equal, with the emerging legal cannabis industry being a prime example. Whereas in other industries marketing strategies are only limited by financial resources and creativity, the emerging cannabis industry has additional hurdles and factors to consider due to ongoing cannabis prohibition in many jurisdictions.

Even in some legal jurisdictions where cannabis commerce is permitted, cannabis advertising and marketing rules and regulations are such that strategies can be very complicated and limited. It makes it much more difficult to make an impact from a branding perspective.

Furthermore, media and public relations efforts are also complicated for cannabis companies. Mainstream media has historically served as one of the top opponents for all things cannabis, and while that is slowly changing, generating positive media coverage that adds real value to a brand can be trickier for cannabis companies compared to companies operating in other industries. Meanwhile, cannabis-specific media continues to rise across the globe, and there are important nuances that are vital to know when corresponding with cannabis media and mainstream media outlets.

All of that is compounded by the rapidly changing landscape of the emerging cannabis industry, especially at the international level, in addition to the industry becoming increasingly more crowded with every passing year. Crafting and pursuing the right media and marketing strategy is paramount for every international cannabis company. It will be the difference between a company becoming a global powerhouse or folding.

The best way to learn how to craft a solid media and marketing strategy is to hear from true experts that have a proven track record of doing it, and opportunities like that do not pop up very often. Fortunately, the upcoming International Cannabis Business Conference in Barcelona will have a panel dedicated to the topic. The ‘Media and Marketing in the Cannabis Space’ panel will be moderated by Shane MacGuill, head of nicotine and cannabis research for Euromonitor International. MacGuill will be joined by:

Michael Knodt, freelance journalist
Simón Espinosa, CEO and founder, EN VOLÁ
Luna Stower, Chief Impact Officer, ISpire
Stephen Verbeek, President and CEO, Hello Cannabis

International Cannabis Business Conference events are attended by cannabis leaders from dozens of different countries, with the Barcelona B2B trade show serving as the first major international cannabis event of its type for 2023. The conference itself will be held at the L’Auditori de Cornellà, with the after-party being held at the Hotel Arts (Ritz-Carleton) Barcelona. You can view the event’s schedule at this link here. If you want to network with the best in the cannabis space, International Cannabis Business Conference Barcelona is a must-attend.

Spain is home to arguably the best cannabis culture on earth, with 70% of Spain’s cannabis clubs being in Barcelona. Roughly 90% of Spain voters support medical cannabis according to a recent survey by the Center for Sociological Research. Home to roughly 4 million regular cannabis consumers, 56% of residents in Spain support legalizing regulated cannabis sales to adults (18 or older). The current value of Spain’s cannabis industry is estimated to be €3.3 billion (£2.81bn) per year.

Over 1,000 people from over 40 countries will be represented at the super-event this March in Barcelona and that includes representatives from every sector of the industry as well as leading international cannabis policymakers and industry service providers. Attend the super-event in Barcelona to network with investors, entrepreneurs, industry regulators, and international policymakers and take your industry pursuits to the next level.

The International Cannabis Business Conference also has additional upcoming events in Berlin in June 2023. You can secure tickets now and take advantage of the early bird pricing discount.

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About the International Cannabis Business Conference

The International Cannabis Business Conference in Berlin is Europe’s longest running and largest industry B2B tradeshow and conference. For more information, including how to register for International Cannabis Business Conference Barcelona, Berlin, and Zurich, please visit: Internationalcbc.com. Find out more on LinkedIn, Twitter, Facebook, YouTube, and Instagram.

For more information or media inquiries, please email noelle@internationalcbc.com or call 541.864.0090.

Colombian Cannabis Exports Nearly Doubled Last Year

Written by Hazel Norman on February 7, 2023. Posted in Business, Policy.

The cannabis world is constantly evolving, particularly in recent years, and there’s no end to that trend in sight. It will be a long time before the dust from the international cannabis industry settles, however, there’s one thing that is likely a safe bet – Colombia will dominate the export market in the future.

Colombia has long served as an international supplier of cannabis, albeit unregulated cannabis. As the international cannabis industry continues to spread, and more markets go legal, many of them will turn to Colombia in an increasing fashion for supply.

Cannabis can be cultivated in Colombia much easier compared to many other countries, with the quality being comparable to what is found in other nations but produced at a fraction of the cost. This last year Colombia ramped up its legal medical cannabis exports considerably, nearly doubling statistics from the prior year on record. Per The New Century:

Bogotá (48%), Cundinamarca (30%), Antioquia (12%), Santander (8%) and Magdalena (2%), were the departments that exported US$8.4 million in cannabis between January and November 2022, which which represented an increase of 96% compared to the same period in 2021, according to figures from Dane.

There are 13 companies that reached 14 countries, where Argentina (40%), Brazil (14%), Australia (12%), Switzerland (7%), Israel (6.5%), the United States (6%) and Germany (5.5%).

“58% of these exports were destined for Latin America and the Caribbean. It is a sector that has significant potential in generating quality employment, especially for women, in different regions of the country. Likewise, cannabis value-added goods have stood out for their quality and innovation,” said Carmen Caballero, president of ProColombia.

It’s going to be very difficult for many other countries to compete with Colombia’s production. In many parts of the world, the cannabis plant can only be effectively cultivated in indoor facilities, and no matter how efficient they are they will never be able to compete with the cannabis flower that is cultivated under the sun or in greenhouses in Colombia.

Cannabis companies around the world would be wise to base their plans on a global cannabis industry that is eventually largely based on some countries cultivating cannabis, some turning raw cannabis into finished goods, and some countries serving as the top market for sales, which occurs with virtually every other agricultural crop.

Spain Study Determines Long-Term Cannabis Use Not Significantly Detrimental To Health

Written by Frank Schuler on February 7, 2023. Posted in Science.

Are you someone that has consumed cannabis on a regular basis for a long time? Do you feel relatively healthy? If so, then you probably roll your eyes every time that you come across media coverage involving claims from cannabis opponents that ‘cannabis is bad for your health.’

The fact of the matter is that humans can regularly consume cannabis for a majority of their lives and not experience any significant health issues due to the cannabis use. In the case of medical cannabis patients and people that use cannabis for wellness purposes, cannabis helps improve their overall health.

The evidence backing up the claim that long-term cannabis use does not significantly impact overall health in a negative way is not just anecdotal. The claim is backed up by a recent study out of Spain, with more information located below via a news release from NORML:

Barcelona, Spain: Adults who regularly consume cannabis products do not report significant differences in their overall health as compared to the general public, according to data published in the journal Cannabis and Cannabinoid Research.

Spanish investigators surveyed a representative sample of regular cannabis consumers on a variety of questions specific to their daily activities and perceived overall health. Their responses were compared to previously compiled data provided by the general public.

Cannabis consumers were more likely than members of the general public to report walking at least ten minutes per day (76 percent to 70 percent), and they were more likely to positively perceive their own health (88 percent to 82 percent). Consumers were also less likely to report having issues with their cholesterol and blood pressure. Consumers were more likely than those in the general population to report experiencing problems sleeping.

One in four respondents reported reducing their need for medical interventions since using cannabis, and nearly one-third acknowledged reducing their use of prescription medications – a finding that is consistent with prior studies.

Authors reported: “In this study, long-term users of cannabis scored in a similar way as the general population on a list of health indicators. These results were obtained using validated health indicators, especially designed and used by several governments to assess population health and compare this information between countries or specific populations. There was only one indicator associated with poorer health among cannabis users: sleep problems.”

They concluded: “[T]hese findings suggest that long-term cannabis use might not play a central role in terms of public health. … We suggest inclusion of cannabis-related items in national surveys of health as they would provide valuable data to support the progress of public debates regarding its regulation.”

Full text of the study, “Cannabis and public health: A study assessing regular cannabis users through health indicators,” appears in Cannabis and Cannabinoid Research.

A Limited Number Of People Can Now Buy Recreational Cannabis In Switzerland

Written by Hazel Norman on February 7, 2023. Posted in Policy.

A public policy experiment is underway in Basel, Switzerland where a limited number of adults are now permitted to purchase adult-use cannabis from regulated outlets as part of the nation’s cannabis commerce pilot program, commonly referred to as ‘Weed Care.’

Cannabis commerce pilot programs are not a new concept in Europe, however, getting one to a point where consumers are actually making purchases has proven to be a very heavy lift for various jurisdictions on the continent.

Arguably the biggest pilot program failure thus far in Europe can be found in the Netherlands, where a pilot program has experienced delay after delay. As it stands right now, the pilot program in the Netherlands is not expected to launch until 2024 at the earliest.

Fortunately for a limited number of consumers in Basel, Switzerland, they are now able to make legal purchases. Per Watson:

In Basel, the first participants in the regulated cannabis delivery in pharmacies obtained their legal portions of substance on Monday morning. 374 people aged between 18 and 76 are taking part in the “Weed Care” study in two phases.

The first study group of around 180 people has been able to obtain various cannabis products from nine Basel pharmacies since Monday, as the Basel Health Department announced on Monday. An ID card issued for the study entitles you to purchase it.

The goal of a pilot program is to help policymakers and regulators gather information at a local level in order to, in theory, be better suited to pass reform and regulation measures at a national level.

Some cannabis advocates have pointed to pilot programs as being a double-edged sword of sorts, in that while it does permit some legal commerce, it also possibly pushes larger reform out too far into the future.

Switzerland will serve as a great example of that potential phenomenon and it will be interesting to see if Switzerland eventually abandons pilot programs for nationwide reform once Germany legalizes. Legalization in Germany will presumably occur well before the slated end of the pilot program experiments in Switzerland.

Italy Would Obviously Benefit From Cannabis Legalization

Written by Johnny Green on February 2, 2023. Posted in Policy.

A bit of a metaphorical political food fight occurred last week on social media with two lawmakers in Italy having, shall we say, a ‘debate’ about the merits of cannabis legalization and prohibition. According to local media coverage, the back and forth between Elly Schlein and Matteo Salvini began with Salvini posting an image of Schlein with a sticker on her forehead, and the caption (translated to English), “More taxes and more joints, the priorities of the Pd to help Italians. Do we laugh or cry?”

Elly Schlein, a candidate for the secretariat of the Democratic Party, previously expressed support for legalization. Matteo Salvini, who currently serves as Italy’s Deputy Prime Minister and appears to be a devout prohibitionist, clearly took issue with that expressed support and used it to take a passive aggressive jab at Schlein. Schlein then stated (translated to English), “In the meantime, we are concerned not to make the mafias laugh. The legalization of cannabis takes away ground from organized crime, while raising the ceiling on cash and dismantling the procurement code makes it easier. They are choices. #BetterLegal”

Putting the pros and cons of each individual as a lawmaker aside, the communications about each other’s position on cannabis policy highlights the ongoing need to reform Italy’s cannabis laws. Just as cannabis prohibition does not work anywhere else on earth, so too is it an abject failure in Italy. Lawmakers in Italy would be wise to join a growing chorus of lawmakers in other countries that are calling for legalization in order to boost public health outcomes.

Prohibition Is Bad For Public Health

Over the weekend I reported on a recommendation by France’s Economic, Social and Environmental Council which called for France to pass an adult-use legalization measure, with part of the recommended measure involving the launch of regulated adult-use cannabis sales. To paraphrase the stated the position of the Council, essentially, cannabis prohibition is more harmful to public health than cannabis legalization would be.

The Council has a point. France has one of the greatest cannabis consumption rates on the planet, with data from 2020 indicating that 46% of adults in France have tried cannabis at least once, and 11% consuming cannabis annually. Nearly all of that cannabis comes from the unregulated market being that France only permits very limited use of medical cannabis, although it is worth mentioning that France did recently lift a ban on CBD products and it’s quite possible that some survey respondents were referring to that type of cannabis, often referred to as ‘cannabis light.’ Regardless, consumers would clearly benefit from products being tested prior to being sold which would occur in a regulated industry.

France is not alone in weighing the public health impacts of prohibition versus legalization. Germany is currently pursuing a similar approach, and in a more meaningful way compared to France. Whereas the Council recommendation in France is not legally binding and is merely just a suggestion, lawmakers in Germany are actively pursuing a legalization model that is geared towards boosting public health outcomes via a regulated system. Leaders in the Czech Republic have also indicated a desire to pursue a similar approach, and leaders in Italy should join them.

An Evidence-Based Approach

At best, when cannabis opponents are challenged they will offer up statistics and studies that, when put into proper context, highlight how little proof there actually is that cannabis prohibition works. Those talking points are big on scare tactics, but little on actual applicability. Cannabis prohibition does not lower consumption rates, nor does it prevent youth access. All it does is ensure that products are less safe compared to products in a regulated system, it helps organized crime profit from unregulated sales, and it diverts limited public resources away from effective public health strategies towards forcing people into the criminal justice system.

One thing that is often lost in the discussion about cannabis policy is the opportunity cost of prohibition. Enforcing failed cannabis prohibition is not free, and, in fact, is very expensive. According to Statista, the average daily cost of incarcerating someone (including for cannabis) is roughly 143 euros, which is up from 2019 when the estimated cost was 131 euros a day. That, of course, does not include the cost of the officers patrolling, the cost of the investigation, the cost of any forensic lab work, and the cost of the court proceedings. Now, multiply all of that times the number of people arrested and prosecuted for cannabis offenses in Italy and the numbers quickly add up. Obviously, not every case involves every component that I mentioned, however, at the macro level it’s still a tremendous sum when all combined together.

Meanwhile, none of those dollars go towards actual public health strategies, such as education. Regulated sales coupled with funding ongoing education campaigns helps mitigate youth consumption rates better than threating youth with possible criminal justice ramifications, as proven by the statistics in some legal jurisdictions like the State of Oregon where I live. The funds saved by no longer enforcing failed prohibition, coupled with the revenues generated by a taxed and regulated industry, can provide governments with funding levels for public health strategies that they currently can only dream about. That would obviously include Italy, but only when lawmakers like Matteo Salvini refrain from making prohibitionist quips, and instead focus their energy on pursuing a sensible approach towards cannabis public policy.

Argentina Creates A National Agency For Cannabis

Written by Hazel Norman on February 2, 2023. Posted in Business, Policy.

Argentina’s emerging cannabis industry has evolved at a rapid pace compared to other markets in recent months. As we previously reported, back in April 2022 Argentina’s Ministry of Health issued new rules pertaining to medical cannabis, allowing non-profits to eventually obtain licenses.

Roughly a month later Argentina passed a measure that created a framework for a more robust medical cannabis industry in the South American nation, including provisions for boosting exports around the world.

On the judicial front, Argentina’s Supreme Court rendered a decision in July 2022 that provides some legal protections for home cultivation by medical cannabis patients. Later in 2022, in October, Argentina issued the nation’s first domestic medical cannabis production license.

That same month Argentina’s government launched a public company to provide seeds, testing, and training to the emerging cannabis industry, and now Argentina’s government has created an agency to oversee the emerging industry and hopefully help it reach its full potential. Per InfoBae (translated to English):

In the context of the law sanctioned last May through which the regulatory framework is created to start an industrial process with the cannabis plant in Argentina, finally this Monday the national government created the Regulatory Agency for the Hemp Industry and the Medicinal Cannabis (ARICCAME), the state body whose main task will be to convert the letter of the law into management.

For now, the regulatory decree signed by Juan Manzur, Chief of Staff, and Sergio Tomás Massa, Minister of Economy, only announces the creation of ARICCAME and the appointment of its authorities. The first president in the history of the Agency will be the current mayor of the Buenos Aires city of Castelli, Francisco Echarren . The vice-president will be the doctor Marcelo Morante , historical activist of the cannabis cause, and in charge of the operation of the registry of medicinal users of the national Ministry of Health.

Argentina appears to have a keen eye on cannabis exports, with several comments surfacing in recent months from various leaders expressing a strong desire to make Argentina a top international supplier of medical cannabis products.

Only time will tell if that actually happens, with Argentina being somewhat late to the cannabis export party. The country deserves credit for proceeding in rapid fashion in recent months, however, several other countries are already exporting medical cannabis products around the world. As such, Argentina has some catching up to do.