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Colombia Exported Over $10.8 Million Worth Of Cannabis Products In 2023

Written by Hazel Norman on . Posted in Business.

Colombia’s emerging legal cannabis industry exported over $10.8 million worth of cannabis products in 2023 according to recently released stats from ProColombia. ProColombia is a government agency of the Executive Branch of the Government of Colombia in charge of promoting Colombian non-traditional exports, international tourism, and foreign investment in the South American nation.

According to Colombia’s Ministry of Justice and Law, more than 3,000 licenses for the cultivation and production of cannabis have been issued in Colombia so far, with an estimated 864+ hectares of legal cannabis planted and a potential cultivation area of ​​at least 57 thousand hectares.

Of the $10.8 million worth of legal cannabis products exported from Colombia in 2023, 32% went to Brazil, 25% went to Australia, and another 14% went to Germany. Germany imported a record 31,398 kilograms of medical cannabis products in 2023.

“According to Mónica Hoyos, director of the Observatorio Colombiano de la Industria del Cannabis, who led the internationalization route of medicinal cannabis for companies of the Bogotá Chamber of Commerce last year: Brazil, Australia, Peru and Germany present better conditions for Colombian exports of medicinal cannabis, data that corroborate the information provided by ProColombia.” reported Sechat in its local coverage.

Mónica Hoyos also issued words of caution that the export numbers reported by ProColombia could be lower than what was actually exported from Colombia in 2023 due to various factors.

“From what we have been able to analyze, under-reporting may occur due to issues of tariff classification and export modalities. This situation, for example, has drawn the attention of entities such as the United Nations Conference on Trade and Development (UNCTAD), which recognized the discrepancies in the hemp export data from its database (Comtrade) and the data from national customs.” stated Hoyos according to Sechat.

Colombia has a long history with the cannabis plant, albeit not always involving a regulated industry. The South American nation legalized medical cannabis and industrial hemp in 2016 and 2021, respectively.

Cannavigia, an international cannabis compliance and production management company, estimates that Colombia’s commercial cannabis cultivators can produce dry cannabis flower for as low as $0.06 per gram, giving it a major advantage over legal industries in other nations where cannabis can cost as much as $2 per gram to produce.

The Colombian export figures for 2023, before any future adjustments, were an 11.3% increase over 2022 when Colombia’s medical cannabis exports amounted to $9.7 million, and a 96% increase compared to 2021.

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Over 178 Applications Received For German Cannabis Cultivation Associations

Written by Johnny Green on . Posted in Business.

Starting on July 1st, 2024, aspiring cannabis cultivation association operators can apply with their local regulatory authorities to try to open facilities. The nation’s first cannabis cultivation association application was approved in the district of Oldenburg last month.

Cannabis cultivation associations will serve as a major foundational component of Germany’s legalization model for the foreseeable future. Cultivation associations, which are also legally operating in Malta, involve up to 500 members cultivating cannabis to be distributed to association members.

Additionally, cultivation associations can conduct other cannabis activities, such as selling cannabis clones and seeds to home cultivators. Associations, home cultivation, and eventually regional adult-use pilot trials, are the legal channels from which adult consumers can source their cannabis in Germany.

Bureaucratic delays have slowed the process of launching cannabis associations in various parts of Germany, however, the flow of applications is starting to pick up in some regions. The German Cannabis Business Association (BvCW) provided the following status update in its most recent newsletter (translated from German to English):

  • North Rhine-Westphalia : 32 applications were submitted here by 18 July.
  • Baden-Württemberg : The Freiburg Regional Council had received 38 applications by July 31.
  • Bavaria : By July 29, 16 applications had been received by the Bavarian State Office for Health and Food Safety. The majority of the applications came from smaller towns.
  • Rhineland-Palatinate : Here, 13 applications were submitted to the State Office for Social Affairs, Youth and Welfare. Here, too, most of the applications came from small towns and villages.
  • Hesse : The Darmstadt Regional Council has received nine applications, including five from small towns and three from large cities.
  • Saxony , Schleswig-Holstein , Hamburg : Seven applications were submitted in each of these federal states.
  • Brandenburg : So far there have been five applications, three of which come from small towns.
  • Thuringia : Four applications were received here.
  • Saxony-Anhalt : The State Office for Consumer Protection is currently processing four applications, three of which are still incomplete.
  • Mecklenburg-Western Pomerania : The Ministry of Agriculture and Consumer Protection has received two applications.
  • Bremen : The first application was submitted to the Senator for Health, Women and Consumer Protection.
  • Saarland : An application has also been submitted here.
  • Lower Saxony: Lower Saxony, of all places, was not mentioned in the PZ article. As reported in the BvCW newsletter, 20 applications were counted there and the first (at least) three were approved.

“In Berlin, the situation is more complicated: the responsibility for processing the applications has not yet been clarified. The district administrations accept the applications, but do not process them until a jurisdictional regulation is in place. This delay is causing dissatisfaction among the clubs, as they are already bearing rental costs without their applications being processed.” BvCW stated about efforts in Germany’s largest city.

In a recent nationwide survey conducted in Germany by Pronova BKK, 44% of self-reported ‘regular’ cannabis consumers indicated that they plan to join one of the country’s cannabis cultivation associations once they launch in their area. Another 27% of ‘occasional’ cannabis consumers also indicated that they plan to join an association.

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German Medical Cannabis Imports Rose 51% In The Last Year

Written by Hazel Norman on . Posted in Business.

Germany’s legal medical cannabis industry was already the largest in Europe before the first provisions of adult-use legalization took effect on April 1st, 2024, and thanks to the recent removal of cannabis from Germany’s Narcotics List, the nation’s medical cannabis industry is set to surge.

Still, Germany imports a considerable amount of medical cannabis products from other countries, particularly from Canada. According to a recent social media post by international cannabis expert Alfredo Pascual, medical cannabis imports have increased significantly over the last year:

In 2023, Germany imported 31,398 kilograms of medical cannabis products according to data from Germany’s Federal Institute for Drugs and Medical Devices (BfArM), a 26.2% increase compared to the prior year. In 2022 Germany imported 24,876 kilograms, compared to 20,771 kilograms in 2021, 11,746 kilograms in 2020, and 8,057 kilograms in 2019.

Roughly 50% of imported cannabis to Germany in 2023 originated from Canada compared to 40% the previous year. In the first half of 2024, 56% of medical cannabis product imports to Germany originated from Canada.

Starting in 2017, Germany legalized the use of 14 different varieties of cannabis flower for patients with severe debilitating diseases and no other treatment options. The legal medical cannabis products have been distributed through German pharmacies ever since. However, it wasn’t until 2019 that Germany allowed medical cannabis to be produced domestically, with the European nation’s medical cannabis industry initially relying solely on medical cannabis imports.

Three companies were chosen in 2019 to produce medical cannabis within Germany. The companies were capped at 10,400 kilograms of product production over the course of a four-year span. With the new CanG law taking effect, that quota system has since gone away. More companies can now apply to cultivate medical cannabis within Germany’s borders, and that will presumably impact Germany’s medical cannabis imports.

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Colombia Is Set To Become A Top International Source For Legal Cannabis

Written by Hazel Norman on . Posted in Business.

Few regions in the world, if any, are as well-positioned as Colombia to sustainably produce mass amounts of raw cannabis material at an affordable price. The South American nation’s climate and geographical location are ideal for cultivating cannabis under the sun and in greenhouses on a very large scale.

Located along the equator, the duration of daily sunlight in Colombia is roughly 12 hours every day of the year, which is perfect for ‘flowering’ cannabis plants. In other regions of the world, including North America and Europe, cannabis can only be cultivated outdoors during warmer seasons.

Additionally, Colombia is located in the Andes Mountain range and has an average altitude of roughly 2,600 meters. Cannabis cultivated at higher altitudes requires less pest control than cannabis cultivated at lower altitudes.

Due to those factors and other factors, quality cannabis can be cultivated in Colombia for as cheap as $.06 per gram of dried flower – a fraction of what it costs to produce dried cannabis flower in North America and Europe, which can be as much as $2 per gram of dried flower.

Colombia has major cannabis production advantages over other regions that simply cannot be replicated, and the legal international cannabis business community is taking notice. Large companies are relocating their production facilities to Colombia and/or teaming up with domestic producers at an ever-increasing rate.

The opportunities in Colombia and the surrounding region are substantial, but getting in on the ground floor in a meaningful way can be tricky. It requires proper due diligence and networking with the right people at the right place and time.

A great opportunity for entrepreneurs, investors, and other industry members to learn more about Colombia’s emerging legal cannabis industry is coming up in Medellín, Colombia at the 2024 Cannaworld Congress where policy experts and industry leaders from the region and around the world will converge.

The 4th installment of the Cannaworld Congress, which is taking place on November 12th and 13th, 2024 at the Intercontinental Hotel in Medellín, will focus on medical cannabis policy, industrial hemp, and the emerging global industry.

Another great opportunity is the 7th installment of the EXPOMEDEWEED conference, which is taking place alongside the Cannaworld Congress from November 11th to 13th at the Intercontinental Hotel. EXPOMEDEWEED is the largest international cannabis industry event focused on the Latin and South American regions.

According to ProColombia, a government agency in charge of promoting nontraditional Colombian trade, the value of medical cannabis exports from Colombia was $10.8 million in 2023, which was an 11.3% increase over 2022, and a 96% increase from 2021.

Per Statista, Colombia’s legal cannabis industry is expected to increase to a value of $64.59 million by the end of this year, and “revenue is anticipated to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 2.09%, leading to a market volume of US$71.64m by 2029.”

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Legal Global Cannabis Products Are Becoming More Diverse

Written by Hazel Norman on . Posted in Business.

As the legal cannabis industry continues to expand to nearly every corner of the planet, the variety of products available to medical cannabis patients is also expanding. Raw medical cannabis flower is still popular in many jurisdictions, however, patient demand and regulatory parameters are driving product innovation, particularly at the international level.

A great example of that can be found in Australia, Germany, and the United Kingdom where multi-country operator SOMAÍ Pharmaceuticals recently introduced its proprietary Mint Oral Solutions product line.

“The new line includes single-strain oils infused with peppermint terpene mixes in various dosage forms, from CBD-dominant to balanced and high-THC. The mint line is the first introduction to improve patients’ compliance and treatment adherence, combining purified extracts and a subtle aromatic mint taste.” SOMAÍ Pharmaceuticals stated about its new product line.

“Cannabis patients prioritize the products’ performance, smell, and taste,” said Michael Sassano, the founder and interim CEO of SOMAI Pharmaceuticals. “So as we prioritize improving patient experience, mint is an excellent starting experience as a popular blend with calming and therapeutic effects, as well as a pleasant subtle taste.”

Currently, the international cannabis industry is a patchwork of laws, rules, and regulations. As such, each market has its own nuances and limitations regarding which types of products can be sold. That, in turn, results in the introduction of new products as entrepreneurs and innovators come up with fresh ideas for products to meet evolving demand.

According to a recent study conducted by researchers from Ukraine and France, and published by the U.S. National Institute of Health, 57 countries have adopted medical cannabis legalization measures. The spread of global medical cannabis policy reform is being matched by a rise in the worldwide industry’s market potential.

For example, the global cannabis pharmaceuticals sector alone is projected to reach $102.4 billion by 2030, expanding at a CAGR of 53.3% from 2024 to 2030, according to a recent analysis by Research and Markets.

“In 2023, Europe dominated the overall market with a revenue share of 41.9% owing to increasing cannabis consumption, as well as rising awareness and positive attitude towards cannabis and its products.” stated Research and Markets in its analysis.

A separate global CBD market analysis conducted by Grand View Research found that the global CBD market was worth $7.7 billion in 2023, and estimates that the market will grow by 15.8% from 2024 to 2030.

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Israel May Apply Import Fees On Canadian Cannabis

Written by Hazel Norman on . Posted in Business, Policy.

Israel’s government is considering imposing import fees on medical cannabis products imported from Canada. Israel previously launched an “anti-dumping” investigation to determine if Canadian cannabis imports were hurting the nation’s domestic industry. In the fiscal year 2023, Israel imported about 21,000 kilograms of medical cannabis products from Canada’s emerging legal cannabis industry.

The investigation’s preliminary findings seem to have determined that prices for Canadian cannabis have impacted Israel’s medical cannabis industry and that a proposed ‘fix’ will come in the form of import fees.

A final decision on whether to implement import fees on Canadian medical cannabis products is expected sometime later this year. Per initial reporting by StratCann:

In the course of the investigation, it was determined that the large volume of cannabis sold into the Israeli medical market from Canada was having a significant impact on both the local market and domestic companies’ ability to compete.

These products, determined Tal’s report, were sold at lower prices that, he argues, do not reflect the normal course of business and at prices that are lower than production costs or from their prices in the Israeli market, especially given the additional costs of exporting cannabis from Canada.

StratCann reports that roughly 80% of cannabis imported by Israel currently comes from Canada. The remaining imports reportedly originate from Portugal, Uruguay, and Uganda. Israel’s investigation “determined that a fair price for Canadian cannabis sold into the Israeli market was about $2-8 a gram” according to StratCann.

Israel’s legal medical cannabis industry is in a state of contraction right now according to domestic coverage, with The Israeli Cannabis Magazine reporting that “after a record of over 140,000 patients in January 2024, in the last six months the number of medical cannabis license holders in Israel dropped by about 8% to 128,355 as of today, the beginning of July 2024.”

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Germany’s Medical Cannabis Industry Is Booming

Written by Johnny Green on . Posted in Business, Policy.

Germany’s emerging medical cannabis industry was already the largest in Europe before the nation’s new CanG law took effect. However, since April 1st, 2024 when the first provisions of adult-use legalization became effective in Germany, the nation’s medical cannabis industry has already grown exponentially.

“Since April 1, the medical cannabis market has almost doubled in Germany,” says David Henn, CEO of the medical cannabis wholesaler Cannamedical, per original reporting by ntv.de.

The recent growth in Germany’s medical cannabis industry is also evident in new data published by Bloomwell Group. The brokerage service company ‘provides both doctors and pharmacies with a digital platform for medical cannabis.’ The company reported a “1,000 percent” increase in business since legalization started in Germany.

A main contributing factor to the recent growth of Germany’s medical cannabis industry was the removal of cannabis from the nation’s Narcotics List, which was a key component of the new CanG law. The removal of cannabis from the list made it easier for doctors to prescribe cannabis in Germany, in addition to improving the medical cannabis supply chain and boosting domestic medical cannabis production.

Medical cannabis is arguably the biggest winner of Germany’s adult-use policy modernization effort so far, and the boost in patient numbers is still very much in the early stages. Prior to April 1st, researchers estimated that Germany had between 200k and 300k active medical cannabis patients. That number is projected to increase to as much as 5 million in the not-so-distant future.

A February 2024 market analysis by Zuanic & Associates determined that if 1% of Germany’s population (roughly 838,000 people) became cash-paying medical cannabis patients, the German medical market ‘could reach €1.7Bn in value by the end of 2025.’ If current trends persist, the 1% threshold could be surpassed far earlier.

The legal German cannabis market is projected to reach an estimated $4.6 billion in value by 2034 according to a recent market analysis by researchers at The Niche Research, which is an impressive sum. However, if Germany’s medical cannabis industry continues to increase at its current rate, the projection could prove to be too conservative as time goes on.

Germany’s medical cannabis industry boom is paralleled by a dramatic increase in the nation’s ancillary cannabis industry, and that increase is having a butterfly effect on other parts of Europe. A recent survey by YouGov found that 7% of surveyed German adults have already purchased cannabis seeds or clones, and another 11% reported that they will in the future.

In a separate nationwide survey conducted in Germany by Pronova BKK, among self-reported ‘regular’ cannabis consumers participating in the survey, 51% selected “Yes, I can imagine having my own cannabis to grow at home” when asked about home cultivation. Another 40% of ‘occasional’ cannabis consumers also selected that option in the survey.

Cannabis seed banks across Europe have reported a significant sales spike due to German home cultivation legalization, and presumably the same is true for companies specializing in home cultivation equipment.

Cannabis opponents in Germany are pointing to the increased size of the nation’s medical cannabis industry and trying to use it to justify their prohibitionist positions. What those opponents fail to recognize is that a boost in patient numbers is not indicative of a ‘broken system.’ Rather, it is a testament to the cannabis plant’s wellness properties and the evolving attitudes of medical professionals.

According to tens of thousands of peer-reviewed studies, countless patient testimonials, and the professional opinions of licensed medical doctors throughout Germany, cannabis is a safe, effective medication that can treat numerous ailments and conditions. Suffering patients deserve to have safe access to therapies that their doctors deem appropriate, and that includes medical cannabis therapies.

Germany’s new medical cannabis policies are working exactly as they should be, regardless of the fear-mongering talking points that cannabis opponents choose to cling to.

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Navigating Germany’s Booming Cannabis Market: A Guide for International Companies

Written by Johnny Green on . Posted in Business, Policy.

The excitement surrounding cannabis in Germany is palpable. With the current government coalition decriminalizing and rescheduling the plant, a wealth of opportunities has arisen for both domestic and international organizations. Events like the International Cannabis Business Conference and Mary Jane Berlin are buzzing with activity, setting new attendance records. However, navigating the German market requires a nuanced understanding of the current regulations to avoid potential pitfalls.

To assist international companies aiming to enter this vibrant market, the largest German Cannabis Business Association (BvCW – Branchenverband der Cannabiswirtschaft, www.cannabiswirtschaft.de) has introduced a specialized format. This initiative is designed to provide critical information and support for businesses looking to establish a presence in Germany. With its comprehensive focus on all aspects of cannabis—medicinal, recreational, and industrial—the BvCW is uniquely positioned to offer valuable insights into the evolving landscape.

Why Germany?

“We understand that there are many eyes on Germany at the moment,” states Dirk Heitepriem, president of the BvCW. “Since April 1st, many opportunities have opened up for international companies looking to sell products and services in Germany! We receive numerous inquiries daily from industry colleagues worldwide. Our goal is to provide them with a platform that will guide them through the process, helping them find the right stepping stones while avoiding inherent traps.”

Key Developments and Opportunities

Benjamin Patock, a member of the Executive Board, adds, “A lot has changed. Access to cannabis as a medicine is easier than ever. Additionally, we are witnessing a significant boom in the recreational home-growing market, with the first cannabis clubs on the horizon. However, some opportunities remain exclusive to EU member states at this point.”

Introducing the BvCW International Briefing

To keep international companies well-informed, the BvCW will host the “BvCW International Briefing” quarterly via Zoom. These sessions will cover recent policy changes, current opportunities and risks, and expected regulatory developments. Participation is free of charge upon registration.

Stay ahead of the curve and ensure your company is well-prepared to tap into Germany’s expanding cannabis market. Register now to join the BvCW International Briefing and gain the insights needed for a successful entry.

For more information and to register, visit

www.cannabiswirtschaft.de/intlbriefing

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German Legal Cannabis Market Projected To Reach $4.6 Billion By 2034

Written by Hazel Norman on . Posted in Business.

The legal German cannabis market is projected to reach an estimated $4.6 billion in value by 2034 according to a new market analysis by researchers at The Niche Research. The market analysis predicts that Germany’s legal cannabis market will experience a compound annual growth rate (CAGR) of 17.2% between 2024 and 2034.

Germany implemented the first provisions of its national adult-use cannabis legalization law on April 1st, and the home cultivation sector is already increasing in size at an exponential rate. According to a recent survey by Pronova BKK, 51% selected “Yes, I can imagine having my own cannabis to grow at home” when asked about home cultivation. Another 40% of ‘occasional’ cannabis consumers also selected that option in the survey.

A separate survey by YouGov found that 7% of surveyed German adults have already purchased cannabis seeds or clones, and another 11% reported that they will in the future. Cannabis seed banks across Europe have reported a significant sales spike due to German home cultivation legalization.

Medical cannabis was already a huge industry in Germany prior to adult-use legalization, with the country being home to Europe’s largest medical cannabis market. However, part of the CanG law involved the removal of cannabis from Germany’s Narcotics List, and with it, caps on domestic medical cannabis production. Germany imported a record 32,398kg of medical cannabis products in 2023, up 26.6% from 2022.

One could easily argue that the biggest winner of German recreational legalization so far is the nation’s medical cannabis industry. Doctors can more easily prescribe medical cannabis in Germany thanks to the CanG law, and the medical cannabis supply chain is more streamlined than ever. The changes are expected to boost Germany’s medical cannabis base from 0.03% to 1% of Germany’s population in the coming years.

Previous projections for Germany’s emerging cannabis industry include one by Heinrich Heine University Dusseldorf which estimated that adult-use legalization will create 27,000 new jobs in Germany, although that projection may prove to be too conservative as time goes along.

Consider the fact that North Rhine-Westphalia alone is planning on permitting up to 3,000 social cannabis clubs, each able to serve up to 500 members. Every one of those social clubs will create jobs, and that is just one sector of the industry in one region of Germany. If the nation’s medical cannabis industry continues to surge as social clubs and regional pilot projects launch this year, the economic potential of Germany’s emerging industry will be enormous.

Germany’s cannabis industry is currently estimated to be worth nearly 1.2 billion euros according to Euromonitor International. Euromonitor estimates that the emerging global cannabis industry is currently worth 51.4 billion euros, with that figure estimated to top 60 billion in 2025.