Last year, Canadian Cannabis Oil exports spiked by a massive 300% thanks to increased demand for the product from Germany
The demand, and therefore the supply, is only expected to increase exponentially in the next few years as countries legalizing cannabis for medicinal and even recreational purposes find themselves lacking on the supply end of the chain.
As Deepak Anand, vice president of government relations for the consultancy Cannabis Compliance told reporters recently, “Countries like Malta have outright banned smoked forms of medical cannabis from being permitted within their legislation,” adding that, “I believe we are going to see this trend – of cannabis oils demand and exports from Canada – significantly increase in the immediate future.”
What’s more, according to analysts and cannabis industry experts, is that Cannabis and CBD oil is a more viable option, in many ways, than cannabis buds and unprocessed flowers. That’s because Cannabis Oil allows for different forms of administration by patients, and more importantly on the money side of things, is easier and cheaper to transport overseas.
As it happens, Germany is on track to become the largest country as a consumer for medical cannabis, with most of the imports coming from Canada where cannabis is purported to become legalized soon.
In 2017 alone, Germany imported just short of 170 KG of Cannabis Oil from Canada, with Australia in a close second place with 145 KG in imports.
Jordan Sinclair from Canopy Growth, spoke about Cannabis Oil, “In new markets where doctors have limited exposure to medical cannabis prescribing, this paradigm shift can go a long way,” he said, adding that, “Most countries are choosing to first legalize cannabis oil over flower. So that’s created an opportunity for exports to countries that are starting with strict medical regimes with limited qualifying conditions.”[Image Credit: Pixabay]