Australian Cannabis Producers Eye European Market, Especially Germany And France, Marijuana And Menstrual Pain Study Underway
As the European cannabis scene develops, cannabis growers in Australia are looking to seize the opportunity. Some Australian farmers are already signing multi-million dollar export deals.
Australian Natural Therapeutics Group (ANTG) is focusing on Germany, which recently relaxed its cannabis laws. Among the most significant reforms is the regulation of medical marijuana similar to ibuprofen. ANTG has been exporting to Germany since 2020.
Germany is considered a leader of the European medical marijuana market, accounting for $621 million of the total $821 million sales in 2023, writes ABC news.
“Germany is definitely the key market with a 90 million-odd population and a fairly progressive stance on medical cannabis,” said ANTG CEO Matt Cantelo. “And I would dare to say, also a smart approach to the regulations.”
Cantelo added that a new 10-year supply deal with a company in Cologne could be worth more than $100 million, as the company had already experienced a surge in demand since April when marijuana officially became legal in Germany. Under this first pillar of cannabis legalization, adults over 18 can legally possess up to 25 grams of dried …