MJBiz - July/August 2024 - 18

INDUSTRY DEVELOPMENTS National & International
Cannabis News
White House Makes Formal
Rescheduling Proposal
U.S. Attorney General Merrick
Garland formally proposed
moving marijuana to Schedule 3
of the Controlled Substances Act.
After weighing an analysis
of scientific and medical data
from the U.S. Department of
Health and Human Services, " the
Attorney General concludes that
there is, at present, substantial
evidence that marijuana does
not warrant control under
schedule I of the CSA, " Garland
wrote in his May 16 memo.
A final, revised rule could be
issued as soon as September
or October, observers told
MJBizDaily. In theory, that's
when Schedule 3 would become
law, putting rescheduling in
the middle of peak presidential
election season.
The change would have
important impacts: Marijuana
tax reform could collectively
save cannabis operators
billions of dollars, but their
tax obligations will remain
unchanged during the public
comment period, the Justice
Department emphasized.
Other marijuana reforms-such
as federal banking protections,
the allowance for cannabis
companies to uplist on major
U.S. stock exchanges and interstate
commerce-will require
congressional intervention.
Nevertheless, marijuana
advocates praised the news as a
major milestone.
" Reclassifying cannabis is an
important and pragmatic step
on the path to full legalization, "
said Adam Goers, a senior vice
president at The Cannabist Co.,
formerly Columbia Care.
18 July-August 2024 | MJBizMagazine
Netherlands Expands
Cannabis Experiment
The Netherlands' famous marijuana-selling
" coffee shops " in
eight more cities can acquire
regulated cannabis from licensed
growers as an ongoing experiment
with legal production
expands.
As many as 80 coffee
shops in 10 Dutch cities can
acquire cannabis from three
licensed suppliers currently
participating in the country's
" wietexperiment, " a historic trial
with a licensed supply chain.
The Netherlands was for
generations a destination for
cannabis users worldwide,
thanks to the famous marijuana
coffee shops, which existed
thanks to a combination of lax
enforcement and permissive
attitudes.
However, cultivation remained
illegal, creating risk for
producers and uncertainty for
consumers.
The ongoing experiment with
a licensed and regulated supply
chain began last December in the
towns of Breda and Tilburg after
several delays.
Coffee shops are now also
eligible for the pilot program in
eight additional cities: Almere,
Arnhem, Groningen, Heerlen,
Maastricht, Nijmegen, Voorne
aan Zee (formerly named Hellevoetsluis)
and Zaanstad.
The pilot program runs until
2028, although Amsterdam, the
country's largest city, was denied
participation in the experiment.
Early stages of the program
worked out issues such as a 500gram
limit on how much product
coffee shops were allowed to
maintain on hand.
Photo by stock.adobe.com/craftykat
Canadian Medical
Marijuana Exports Rising
Canadian exports of medical
marijuana hit an all-time high
last year, as the country's
licensed producers continued to
diversify from the competitive
local market in favor of pursuing
top-line opportunities overseas.
In the 2023-24 fiscal year,
Canada exported roughly
$189 million (CA$218 million)
worth of medical marijuana
products for commercial and
scientific use, MJBizDaily learned.
That's an increase of more than
36% from the previous year's
exports of CA$160 million.
The data from regulator
Health Canada paints a picture
of brisk and consistent growth
in the export sector. In previous
years, the revenue of cannabis
exports reported by licensed
producers was:
* CA$8 million in 2019-20.
* CA$39 million in 2020-21.
* CA$107 million in 2021-22.
The trend in exports contrasts
with Canada's domestic market,
which has been in a freefall for
several years.
In the 2023-24 fiscal year
ended in March, Canada's medical
marijuana spending was
CA$355 million, according to
Statistics Canada data-a 13%
decline from the previous year
and a 41% decline from the peak
in 2019-20.
http://stock.adobe.com/craftykat https://mjbizdaily.com/amsterdam-denied-inclusion-in-dutch-cannabis-experiment/ https://mjbizdaily.com/amsterdam-denied-inclusion-in-dutch-cannabis-experiment/
MJBiz - July/August 2024

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