Marijuana Business News

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Wed
04
Sep

Barbados-based medical marijuana businesses required to ensure local ownership

The Ministry of Agriculture in Barbados is requiring that any foreign cannabis companies that set-up shop in the country must ensure that locals own at least 30% of the business. This Medical Cannabis Bill 2019 was introduced in the House of Assembly in a bid to establish a legal industry. If this bill is adopted, Barbados would permit medical cannabis just as Jamaica, St Vincent & the Grenadines, and Antigua & Barbuda have. The Agriculture Minister gave a presentation on the bill which revealed that international companies have to create subsidiaries for local Barbadians.

Wed
04
Sep

Cannabis industry contributions to State of Nevada break $100 million

Nevada’s cannabis industry has broken the $100 million dollar mark in taxes and fees for the first time. Dispensaries, cultivators, laboratories and producers have paid more than $109 million in taxes and fees in fiscal year 2019.

$99.18 million was paid in taxes compared to $74.7 million last year. How much of that went to education is not yet available from the state. However, changes to the law this year under the leadership of Governor Sisolak mandate that 100 percent of taxes will go to education in future years. For the next two years, the state is projecting more than $100 million per year in tax collections. Cannabis sales were also up from $529 million in fiscal year 2018 to approximately $639 million in fiscal year 2019, an increase of $110 million.

Wed
04
Sep

New BDS analytics report forecasts CBD sales to reach $20 billion by 2024

A new report from BDS Analytics titled “The Global Cannabinoids Market: Will CBD Overtake THC?” is forecasting that CBD sales will reach $20 billion by 2024. This would account for nearly 44%  of the $45 billion total forecasted
cannabinoid market (which includes legal cannabis).

Wed
04
Sep

Hemp cultivation in Europe

Hemp cultivation in Europe is well established with a tradition dating back hundreds of years. Currently, it is estimated that Europe cultivates up to 25% of the world's hemp. France alone accounted for 40% of the European production, with at least 20 other countries contributing to the European Union's total.

European hemp cultivation has been on a major upswing for the last several years, as producers and consumers become more excited about new usage opportunities.

Tue
03
Sep

3 best marijuana stocks of August -- are they buys now?

August was a dismal month for most marijuana stocks. More than half a dozen pot stocks with market caps greater than $200 million plunged 20% or more during the last month. Several others fell by double-digit percentages.

But there were a few exceptions to the August carnage. Three marijuana stocks performed really well last month: 22nd Century Group (NYSEMKT:XXII), Aphria (NYSE:APHA), and The Green Organic Dutchman (OTC:TGODF). Here's what drove these pot stocks higher and whether or not they're good picks to buy now.

Tue
03
Sep

This small African Nation is the key to tremendous growth for pot stocks

Getting in on the ground floor of a potentially revolutionary venture before it explodes is one of the best ways for pot stocks to grow. That growth may be all at once, or it may be slow and steady, but if the whole sector begins turning towards one trend or one factor that reliably leads to profit, the companies that established an early position in that factor will see the greatest benefit.

This is why Canadian companies are so well-positioned in the cannabis industry. Early legalization allowed corporations across Canada to become first-movers in a number of key markets.

Tue
03
Sep

3 top marijuana stocks to watch in September

August wasn't a great month for most marijuana stocks. For that matter, neither was May, June, or July. Ups and downs come with the territory with investing in marijuana stocks, though.

Tue
03
Sep

Hemp can help Latin America if proper strategies in place

Hemp can help to alleviate poverty in Latin American countries, but only if effective competitive strategies are in place, said Sergio Vazquez Barrios, who heads Uruguay’s industrial hemp program in the Ministry of Livestock, Agriculture and Fisheries (MGAP).

“I believe that the poverty levels of a country or an agro-exporting region are not overcome only with the large-scale production of a crop for which the demand is temporarily higher than the supply,” Vazquez Barrios told HempToday. “A strategic objective must first be considered and a competitive strategy must be identified.”

Vazquez Barrios said such a strategy must be combined with public education and development policies in order to advance economic growth.

Tue
03
Sep

Thailand drops cannabis extracts from narcotics list; firms eye investments

Thailand has removed cannabis and hemp extracts from its narcotics list, officials said on Monday, the latest effort to promote the development of marijuana products for medical purposes.

Thailand, which has a tradition of using cannabis to relieve pain and fatigue, legalized marijuana for medical use and research last year to help boost agricultural income.

“The intention is to allow extracts to be used in medicine, cosmetics and food and support hemp as a cash crop,” Tares Krassanairawiwong, Secretary-General of the Thai Food and Drug Administration, told reporters, adding that hemp seed and oil would also be exempt.

Tue
03
Sep

The cannabis industry in the UK: Risky business?

Is the cannabis industry in the UK a risky business? John Binns, Partner at BCL Solicitors LLP finds out more

Few can have failed by now to spot that cannabis and cannabis derivatives, are increasingly big business, not only in countries like Canada, but also right here in the UK. But the question of how this brave new world fits with the UK’s institutional attitude towards cannabis is an important one and divides into domestic and international issues.

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