Jamaica Information Network: “Increased Demand For Local Cannabis”

CANNANNEW REPORT

There has been an increased demand for local cannabis in the global market space, as buyers from various countries seek to acquire the product for medicinal and research purposes. The Cannabis Licensing Authority (CLA) is reporting that since the start of the year, 19 export authorisations have been issued to allow companies to ship cannabis overseas and another 21 requests are being processed. “So, several products [are being shipped] into several jurisdictions [such as] Canada, Australia, Israel, Zimbabwe, Cayman, Germany, Switzerland, and Portugal,” Acting Chief Executive Officer of the CLA, Faith Graham, tells JIS News. The CLA began issuing export authorisations in 2018. To date, 42 such authorisations have been granted to 10 entities trading with countries in Africa, North America, the Caribbean, Europe, and Oceania. Ms. Graham says that some of these jurisdictions have very stringent testing requirements in terms of the quality of the cannabis. “I believe that this is an excellent step in the development for our industry having been able to penetrate these markets,” she tells JIS News. She notes that the industry has come a long way and credits the efforts of local stakeholders in finding ready markets for Jamaican cannabis. “What is happening right now in the industry is that licensees have had the opportunity to go through several crop cycles (and) they are the ones who are actually seizing and finding the opportunities out there to test the waters,” Ms. Graham says. “Cannabis is a long-term investment and what is good about it is that once we are able to penetrate these global markets with the standard of our cannabis, it means that it is paving the way for future commercial quantities being exported. So, this is the next phase of where the industry is,” she adds. Meanwhile, the Acting CEO tells JIS…

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Source : Jamaica Information Network: “Increased Demand For Local Cannabis”

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