MJBizMag September 2020 - 60

AFFAIRS
FOREIGN
Top International
MMJ Markets
From Israel to Australia, countries with medical marijuana programs
are generating revenue
By Alfredo Pascual
N
ot a week goes by without a
prognosticator foretelling an
international marijuana industry
worth a bajillion dollars between five and
50 years from now.
But what about today's markets?
It turns out there are some healthy,
and growing, medical marijuana
markets outside the United States and
Canada-assuming you can look past
the cannabis industry fan fiction.
What follows is a list of five of our top
markets where revenue opportunities
exist today.
GERMANY
Germany is home to one of
the largest medical cannabis
markets outside North America. And
unlike countries where medical patients
have access to domestically grown
marijuana, Germany must depend
exclusively on imports at least until the
end of 2020.
In recent years, a dozen or more
countries have legalized medical
cannabis with the goal of attracting
foreign investment and establishing an
export industry.
That's not been the case for
Germany-at least not yet. As of mid2020,
Germany continued to import
medical flower and full-spectrum
extract from Canada, the Netherlands
and Portugal. The medication is sold
at German pharmacies as magistral, or
customized, preparations.
The products have enjoyed robust
The Löwen Apotheke in Trier calls itself
the " oldest German pharmacy "
and dates back to 1241.
Photo by Alfredo Pascual
demand among Germans. As in 2018,
German sales of medical cannabis last
year exceeded the combined sales of all
other European nations.
Moreover, medical cannabis
sales in Germany in 2019 posted
stronger growth than in Italy and the
Netherlands, Europe's second- and
third-largest markets, respectively, for
flower and full-spectrum products.
But it's hard to say definitively that
Germany has the largest medical cannabis
market outside North America
because a lack of reliable data makes
comparisons difficult.
If flower imports are used as a
benchmark, Israel overtook Germany as
60 Marijuana Business Magazine | September 2020
the No. 1 importer in the world in July.
While Israel imported about 6,000
kilograms (13,228 pounds) of flower
through July 2020, Germany barely
surpassed 3,000 kilograms during the
first seven months of the year.
In 2019, a total of about 6,500
kilograms were imported for pharmacy
dispensing in Germany, which translates
to average monthly imports of 542
kilograms. In 2020, the average has been
closer to 600 kilograms per month.
Germany's first domestic harvest to
supply local pharmacies with flower is
expected to be ready at the end of 2020.
But the crop won't be large enough to fill
the country's growing demand-meaning

MJBizMag September 2020

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