Canada’s economy could benefit significantly from recreational cannabis exporting through revenue generation, job market growth, and boosting GDP through increased exports. (Submitted photo/Philip Campbell of Herbal Dispatch)

By Jennifer Olson

growing market

Regulatory changes needed for craft cannabis economy to skyrocket globally

Mar 15, 2024 | 4:08 PM

Germany’s recent legalisation of recreational cannabis is a step in the right direction for the destigmatization and acceptance of cannabis on a global level.

The new law prompts a closer look at how the Canadian cannabis industry may be impacted by the recent changes, more specifically, craft cannabis.

Renowned for its quality (in particular, cannabis from British Columbia), Canadian craft cannabis has a global reputation thanks to decades of expertise from legacy producers. However, current regulations stifle the growth of Canada’s international craft cannabis trade.

On Feb. 23, the German government joined Canada, Georgia, Luxembourg, Malta, Mexico, South Africa, Thailand and Uruguay, plus 24 states, three territories and the District of Columbia in the United States, as well as Australia’s Capital Territory in the federal legalisation of recreational cannabis use.

With so many countries now allowing recreational cannabis, those invovled in the industry are wonder how does this impact the craft cannabis industry in Canada. Craft cannabis is considered to be top of the line bud, and was produced for decades by expert legacy growers, mostly in B.C.

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It holds legendary status amongst cannabis enthusiasts around the world. A select number of legacy cannabis producers have made the transition to the legal cannabis market, and they currently face regulatory barriers in expanding into the global market.

“Canada’s cannabis regulations (s.213.1) only allow for the export of cannabis for medical or scientific purposes,” explained Philip Campbell, Director and CEO of Herbal Dispatch.

“I don’t believe the legalisation of recreational cannabis in Germany will have a discernible impact on B.C.’s craft cannabis until exports are allowed for recreational cannabis. Hopefully, that changes soon so that Canada can remain at the forefront of this industry.”

Herbal Dispatch was founded in 2015 and provides the Canadian cannabis community with products sourced from over 50 vendors who produce a diverse range of cannabis cultivars. The member-driven cannabis club ensures safe access to premium, small-batch cannabis in Canada.

Canada’s economy could benefit significantly from recreational cannabis exporting through revenue generation, job market growth, and boosting GDP through increased exports. It could lead to a trade surplus and contribute to tax revenue.

Having Canada’s cannabis products available globally would give a boost to the country’s cannabis tourism industry, creating even more revenue.

Despite legal limitations restricting the international trade of recreational cannabis, there has been significant growth in medical cannabis exports. Philips described the challenges faced by cannabis producers looking to export.

“A main challenge in exporting cannabis is finding a suitable company to obtain an import permit,” Philips stated.

“The producer must then meet the company’s quality requirements for the importer’s country.  Each country has different quality requirements around medical cannabis, so understanding the target market and ensuring that those requirements are met is critical for success.”

Despite regulatory hurdles, industry leaders remain optimistic about the future of craft cannabis exports, advocating for policy reform that will enable B.C. and Canada to continue to lead in cannabis quality on a global level.

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info@westernbuzz.ca