Curious in regards to the growing European cannabis markets? Then tune in to the Europe Market Forum on Monday, Nov. 23, at MJBizCon’s Passholder Days. Topics embrace the Germany and Israel markets in addition to roundtable periods protecting adult-use pilot applications and hemp. More info is available here.

Cannabis producer Little Green Pharma grew to become the first Australian company to ship its medical marijuana oil to Germany on the market to shoppers, the Western Australia-based agency introduced.

Australia joins Canada and different nations supplying the German market with cannabis oil merchandise.

Roughly 789 liters (208 gallons) of cannabis oil was shipped from Canada to Germany final 12 months, in accordance to Canadian authorities information.

Little Green Pharma mentioned the cargo consisted of two,400 items of cannabis oil value greater than 600,000 Australian {dollars} ($436,000).

The oil was shipped to German medical distributor CC Pharma, a subsidiary of Canada’s Aphria.

Little Green Pharma mentioned it expects the product to clear customs within the coming week, adopted by batch testing, earlier than being launched on the market into the German market.

Shipping medical marijuana to the European Union is not any simple activity.

Little Green Pharma mentioned it took 22 months to full:

  • Negotiations.
  • Quality inspections and audits.
  • Procurement of German and Australian narcotic licenses and permits.

The course of “reflects the high regulatory barriers to the export of medicinal cannabis products to the EU,” in accordance to the corporate’s information launch.

Separately, Little Green Pharma signed a three-year buy settlement earlier this 12 months with Berlin-based Demecan – a medical marijuana distributor.

That deal entails the sale and export of up to 1,000 kilograms (2,204 kilos) of dried flower, or 48,000 items of medicinal cannabis oil product per 12 months.

Cannabis companies have expended a substantial quantity of money and time establishing a toehold within the promising German market.

But up to now the rewards have been few and much between, with most worldwide corporations recording marginal income within the rising, however crowded, market.

The German market stays a distant second to Canada’s by expenditures – although that’s anticipated to change within the coming years.

MJBizDaily‘s European report, printed earlier this 12 months, estimated annual gross sales in 2019 in Germany of at the very least 170 million euros ($200 million) at retail worth. That compares to Canadian expenditures in 2019 of about 618 million Canadian {dollars} ($472 million).



Source link