Africa’s Budding Cannabis Market Poised for a Boom

CANNABIS CULTURE – The biggest single medical cannabis export in history was staged from Africa in 2021. Now, the African continent’s cannabis market is predicted to generate more than the $7bn mark.

The burgeoning industry in Africa (often restricted to simple cultivation where legalization is available) is set to break new ground in 2022 when the continent dabbles with manufacturing and exporting cannabinoid pharmaceuticals ingredients that are used in therapeutic medicines and wellness supplements.

With a rising demand for single-molecule cannabinoids in the UK, Australia, the US, and Israel, says Sibusiso Xaba, an investment banker and co-founder of The ACA Group, an advisory firm focused on the African cannabis market. 

“However, the majority of pharmaceutical cannabinoid products available today are clinically examined by the US Food and Drug Administration leaving African cannabis labs and companies facing an uphill battle to be certified. This should not hinder Africa because, for the first time, key outbound markets like the UK are allowing medical cannabis to list on the stock exchanges,” Xaba says.

Obstacle so far?

Until now, Africa´s shift into exporting high-value cannabinoid pharmaceuticals has been hampered by lack of access to specialist Good Manufacturing Practice (GMP) approved manufacturing laboratories

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How Long Do Marijuana Edibles Stay In Your System?

Thailand’s narcotics board on Tuesday said it would remove cannabis from its drugs list, paving the way for households to grow the plant.

Thailand became the first Southeast Asian country to legalize marijuana in 2018 for medical use and research.

Under the new rule, people can grow cannabis plants at home after notifying their local government, but the cannabis cannot be used for commercial purposes without further licenses, Health Minister Anutin Charnvirakul told reporters.

– Read the entire article at The Fresh Toast.

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Thailand Gives Green Light To Growing Cannabis At Home

Thailand’s narcotics board on Tuesday said it would remove cannabis from its drugs list, paving the way for households to grow the plant.

Thailand became the first Southeast Asian country to legalize marijuana in 2018 for medical use and research.

Under the new rule, people can grow cannabis plants at home after notifying their local government, but the cannabis cannot be used for commercial purposes without further licenses, Health Minister Anutin Charnvirakul told reporters.

– Read the entire article at CNN News.

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Study: Medical Cannabis Use Reduces Opioid Prescriptions In Patients With Osteoarthritis

Researchers in Philadelphia concluded that medical cannabis reduces opioid prescription for patients with chronic OA pain and improves pain and quality of life.

Osteoarthritis (OA) can result in significant pain, often requiring pain management with opioids, which can be addictive. According to a study performed by researchers at Thomas Jefferson University and the Rothman Orthopaedic Institute in Philadelphia, medical cannabis has the potential to be an alternative to opioids for chronic pain conditions.

The study acknowledges the current opioid crisis in the U.S., including “opioid-related deaths nearly quadrupling between 1999 and 2015 and 37.8% of adults using opioids in 2015.”

– Read the entire article at The Fresh Toast.

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Cannabis Events Come Out of Hiding in New York City

As New Yorkers wait for marijuana sales to be legalized, some small businesses are putting down roots.

New York may have legalized recreational marijuana in 2021, but the state still has not passed the laws that would allow its sale in stores, or its consumption at club-like lounges — moves that would open doors for a potential $4.2 billion industry.

Though licenses and permits are not expected to be issued until later this year, with businesses up and running in 2023, the recreational marijuana industry is already setting down roots, hosting events aimed at educating consumers and drumming up excitement.

– Read the entire article at The New York Times.

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Free Webinar Today! Solving the Cannabis Tax Puzzle

Register here!

Any state that legalizes adult-use cannabis faces many decisions as it sets up a regulatory structure. All states currently impose excise taxes on recreational cannabis, but the questions of how much to tax and how to tax are complex.

Today at 12pm EST / 3pm PST, our own Hilary Bricken will join the panelists listed below to explore the evolving theory and practice of cannabis tax policy. This panel will discuss a range of issues including the choice of an effective tax base (weight of flower and trim, THC amount, percentage of price), to the appropriate tax burden levied upon cannabis businesses.

Panelists Ulrik Boesen, senior policy analyst, Tax Foundation Hilary Bricken, attorney, Harris Bricken Benjamin Leff, professor, American University Law School Pat Oglesby, founder, The Center for New Revenue Moderator Shaleen Title, distinguished cannabis policy practitioner in residence, Drug Enforcement and Policy Center

We hope to see you soon!

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New York Doctors Can Now Recommend Medical Marijuana To All Patients Who Can Benefit From It

The New York State Office of Cannabis Management (OCM) announced on Monday the launch of a new medical cannabis certification and registration system that will not only be far easier to use but will expand eligibility criteria for patients who can benefit from medical cannabis.

The program, the first of its kind nationally, will allow the certification of a patient by a practitioner for any condition that the practitioner believes can be treated with medical cannabis, reported local CBS News outlet WRBG Albany. A precedent can be found in Argentina’s REPROCANN program.

This practitioner’s discretion in certifying patients was essentially granted with the passage of the Marijuana Regulation and Taxation Act (MRTA), which legalized cannabis last March.

– Read the entire article at Benzinga.

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Florida’s Roadmap To Cannabis Legalization

The wait for legal cannabis in Florida may continue longer than proponents planned, but if everything goes accordingly from a planning and preparation standpoint, the wait may be worthwhile for consumers.

Ever since Colorado and Washington became the first states to legalize recreational cannabis use about a decade ago, dozens of other states have followed in their footsteps. In fact, nearly half of the states in the country have recreational cannabis laws on the books now, which makes one curious as to where Florida is on cannabis legalization.

There is medical marijuana available in the state, which leads one to believe that the legalization of recreational cannabis isn’t too far away. Cannabis legalization could be an economic driver for Florida that’s tough to rival. Here are some key insights about the path to cannabis legalization in the Sunshine State.

– Read the entire article at The Fresh Toast.

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Oregon Cannabis: New Rules, Part 5 – License Cancellation Criteria

This post focuses on recent changes to OAR 845-025-8590, which addresses when the Oregon Liquor & Cannabis Commission (“OLCC”) may cancel or suspend a marijuana business license. It continues our discussion of recent OLCC changes to the regulations governing marijuana in the State of Oregon. You can review the changes to OAR 845-025-8590 and all other rules here.

The new rule applies to marijuana license cancellations under ORS 475B.256(1)(a)

So what conduct falls under this statute?

The text of the statute includes a wide swath to conduct. It provides that OLCC may revoke, suspend, or restrict a license, or require a licensee to or licensee representative to undergo training if the OLCC finds or has reasonable grounds to believe that the licensee or licensee representative:

(A)        Has violated a provision of ORS 475B.010 (Short title) to 475B.545 (Severability of ORS 475B.010 to 475B.545) or a rule adopted under ORS 475B.010 (Short title) to 475B.545 (Severability of ORS 475B.010 to 475B.545).

(B)       Has made any false representation or statement to the commission in order to induce or prevent action by the commission.

(C)        Is insolvent or incompetent or physically unable to carry on the management of the establishment of the licensee.

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Making Cannabis More Accessible: Lessons Learned From the Alcohol Industry

In the same way that alcohol transitioned from the speakeasy to Main Street, cannabis is cultivating its new space in modern culture.

Opinions expressed are solely those of the author and do not reflect the views of Rolling Stone editors or publishers.

We are at a moment in American history where cannabis is thoroughly mainstream, despite still being federally illegal. Not just a cultural mainstay for music and movies, today we see cannabis-based products punctuate the shelves of wellness shops, grocery stores and makeup counters. Chefs and celebrities host cannabis-infused dinners for their famous friends. Even Martha Stewart, a domestic goddess known for prim and proper living, is a vocal cannabis connoisseur who has her own, award-winning line of CBD products.

– Read the entire article at Rolling Stone.

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