In Germany, demand for medical marijuana imports set to grow by 37% to 28,455 kg in 2020
A recent press release from Germany’s federal government estimates that medical marijuana imports are expected to reach 28,455 kgs in 2020, a 37% increase YoY.
Dr. Armin Prasch, Head of the BvCW (German cannabis industry association), commented, “With the cannabis industry, we see an ongoing, growing, and stable market in the medical cannabis space. This confirms our prognoses. We attribute the expected increase of approximately 37% compared to 2019 to the increasing knowledge of doctors in therapeutic use and increased demand on the part of patients, which could be explained by the changing public perception of the possible uses of cannabis as a therapeutic agent” (Translation).
While medical marijuana has been available by prescription since March 2017 in Germany, the country’s medical marijuana market is still dependent on cannabis grown abroad. The German government has limited domestic cannabis production to 2,600 kgs per year, not nearly enough to meet demand in the country. Germany’s reliance on imports makes it an exceptionally attractive market to Canadian LPs (APHA, TLRY, CRON, CGC, and ACB) seeking to gain a foothold in the EU and offload excess inventory. The German Federal Institute for Drugs and Medical Devices (BfArM) has authorized companies from Canada, the Netherlands, Austria, Switzerland, Portugal, Spain, Israel, Colombia, and Uruguay to export medical marijuana to Germany.
Another indicator of Florida’s robust market: Curaleaf’s Select Elite Live cartridges reach over $1M within a month (CURLF)
Yesterday, Curaleaf announced that its line of Select Elite Live cartridges reached $1M in sales since launching in the Florida medical market on August 6. Select Elite Live features high quality, high potency oil with a wide variety of strain-specific flavor and effects. The company plans on launching additional Select product offerings to Florida's medical patients later this year, including the best-selling high potency broad spectrum Select Elite cartridges.
New Massachusetts proposal allows delivery license holders to purchase marijuana wholesale from cultivators and manufacturers (TCNNF)
Last week, Massachusetts’ Cannabis Control Commission (CCC) made a new proposal to allow delivery license holders to source the cannabis and cannabis derivative products they sell from CCC-licensed wholesalers. Currently, delivery licenses are only available to participants in CCC’s social equity/economic empowerment program. This regulatory change comes as beneficial to both delivery and wholesale operators. The coronavirus pandemic has accelerated adoption of home delivery/e-commerce within cannabis (e.g. cannabis delivery in Ontario), and it seems likely that cannabis delivery operators in Massachusetts will be as competitive as brick-and-mortar retail storefronts as they come online.
Trulieve has been building out a cultivation and manufacturing facility in Holyoke, MA and anticipates launching its wholesale operations in the state by end of 2020 or in 2021. Their Massachusetts wholesale operations has been framed as pilot program for the company’s greater wholesale expansion plans.
