Cannabis growers and producers in B.C. are looking to enter—or expand their exports to—the German market following the country’s marijuana decriminalization law, which took effect April 1.
Due to export restrictions, Canadian companies are not allowed to export recreational cannabis products globally, but many have been selling medical cannabis products to countries including Germany, which has a population of more than 84 million and is Europe’s largest economy. “The medical cannabis market in Germany is expected to grow very exponentially.… That is probably the change that will have the biggest positive impact on cannabis cultivators, growers and businesses in Canada and B.C.”
“There’s a lot of interest now with the market in Germany. People are pretty excited,” said Philip Campbell, CEO of Herbal Dispatch. He said he is going to a cannabis conference in Germany later this month with the aim of securing some export deals. The company plans to sell to the market in the second half of 2024.
“B.C. buds are well known across the world and that’s because our product is a very high quality. Five years post-legalization for recreational purposes, almost 10 years for medical purposes, we have a really skilled and competent group of individuals that are cultivating cannabis.” Last year, the company exported 500 kilograms of medical cannabis products, representing about 20 per cent of its total revenue. This year, the company expects to export 3,000 to 5,000 kilograms—up to 10 times its exports last year, and an amount that would account for 30 per cent to 40 per cent of total revenue.
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