With each passing week, a growing number of countries and states examine the many ways cannabis could bring them revenue.
We have Oregon, USA and Israel getting into the business of cannabis exports, analysts looking at the potential of the African cannabis market, and company owners fighting for their right to advertise. All that and more in this week’s Cannabis Business Weekly Review.
Canadian-based 48North Cannabis Corp will soon being planting the world’s largest outdoor cannabis grow operation. According to a company representative, they plan to utilize their 100-acre facility to produce over 40,000 kilograms of organic flowers this year. Come harvest time in September, they will have what’s expected to be the lowest cost-per-gram buds in Canada. Click here to read the full story.
Should Bill 582 pass a final vote – which it’s fully expected to – Oregon will become the first state to allow cannabis exports across state lines. It already passed the senate with a vote of 19-9, 17 democrats and 2 republicans voted in favor. It was anticipated that the senate vote would be this bill’s biggest hurdle and now it should be smooth sailing as enters the final stages to becoming law. Click here to read the full story.
While the world looks at North America and Europe as forerunners of the cannabis industry, Africa is an untapped market that gets very little attention. Cannabis is technically illegal in Africa, but it’s in high demand no less. With their perfect climate for cultivation and a continuously growing population, it’s expected that within just a few years, the industry there could top $7 billion. Click here to read the full story.
After years of repressive policies that unjustly target legal cannabis businesses and associated accounts, Facebook is finally getting sued. Representatives of the social media giant have been saying for months that they will ease up on cannabis enforcement, but they have yet to make good on that promise. Now, one business owner has finally had enough. Click here to read the full story.
Modern medicine has accomplished some extraordinary feats, from the discovery of penicillin to lifesaving surgical procedures. But these days, it often seems like the pharmaceutical industry is more concerned about their bottom line than helping people access medications. That said, imagine how they feel about the possibility of losing $18 billion or more to medical cannabis, a completely natural remedy. Click here to read the full story.
In January, Israel made the move to legalize the export of medical cannabis and now, financial analysts are expecting the industry to blow up. The Israeli cannabis industry had an estimated value of around $11 billion back in 2015, but it’s anticipated to be worth 6 times that amount by 2027. With the new export policy, Israel can ship to any country with legal cannabis – both medical and recreational. Click here to read the full story.