Laws around cannabis use are changing in countries like France and Germany, and Australian farmers are hoping to capitalise.
Europe is one of the world's biggest medicinal cannabis markets, with its economic value projected to grow from $821 million to $3.3 billion by 2027.Some in the industry are confident France will fully legalise its medicinal market in 2025, offering further opportunities for Australian exporters.
The country accounted for $621 million of the total $821 million in sales on the European continent in 2023. "Germany is definitely the key market with a 90 million-odd population and a fairly progressive stance on medical cannabis," chief executive Matt Cantelo said.ANTG, which has facilities in New South Wales and Queensland, has been exporting to Germany since 2020.The country also legalised recreational use for adults but stopped short of allowing a commercial market.
Chief executive Paul Long said the relaxation of restrictions in Europe had been "a long time coming". "It seems to be hitting the right marks in terms of providing an alternative to the black market and trying to restrict access to young people," she said.
Growing Cannabis Legal Cannabis Aussie Farmers Legalising Cannabis Weed Pot Medicinal Cannabis Patients Trial Exports Recreational Use Cannabis Markets Marijuana Cannabis Laws
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian-owned cruise ship set for maiden voyage in EuropeThe MS Estrela is set to grace Portugal’s Douro River on her maiden voyage next month.
Read more »
Australian-owned cruise ship set for maiden voyage in EuropeThe MS Estrela is set to grace Portugal’s Douro River on her maiden voyage next month.
Read more »
Australian-owned cruise ship set for maiden voyage in EuropeThe MS Estrela is set to grace Portugal’s Douro River on her maiden voyage next month.
Read more »
How do Australian worker commute times compare to Europe and North America?The time it takes Australian workers to get to work is increasing. What do experts think will help improve them?
Read more »
Australian wine market: Seppeltsfield buys up as Australian Vintage offloads two vineyardsThe ASX-listed producer behind McGuigan and Tempus Two will exit one property in NSW and sell another in South Australia to its privately owned rival.
Read more »
Australian Opals through to the Olympic basketball quarter-finals after win over France7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »