- accessible products containing THC , and to non-psychotropic health products , food supplements and nutraceuticals containing CBD and other beneficial cannabinoids .
Before reviewing the New Zealand situation , both in the present and in regard to future potential , it is helpful to look at the hemp industries in some of these overseas countries .
This helps with both appreciation of the potential for a developed hemp industry in New Zealand , and the regulatory means by which that might be achieved .
Additionally , it highlights those countries which are sufficiently liberal to have developed consumer demand for , and understanding of , hemp health products , and therefore qualify as valuable export markets for NZ producers .
CANADA
Canada is at the forefront of the cannabis / hemp global industry in regard to research , investment and substantial production .
This has been enabled by broad liberalisation of controls of the cannabis plant and products arising from it . Medicinal cannabis was legalised in 2001 , and in 2018
Investor Report Industrial Hemp Sector New Zealand ’ s New Export Opportunity 2020
this was expanded to the legalisation of cultivation , possession , acquisition and consumption of cannabis and its byproducts ( i . e . as a recreational drug ).
A licence is required to grow cannabis commercially , process it into finished products , conduct research on it and sell it for medical purposes .
In what is regarded by commentators as an extremely important further stage of liberalisation , regulations came into force in October 2019 for the production of edible cannabis , extracts and cannabis topicals . These may contain THC and / or CBD and other cannabinoids .
There is expected to be strong demand for these products by consumers who were previously reluctant to use or consume cannabis products . While the existing market of legal cannabis was estimated ( in 2019 ) as C $ 5.6 billion , the creation of a consumer market for edibles and other alternate cannabis products is predicted to be worth another C $ 2.5 billion per annum .
The Deloittes Report , when discussing the Canadian industry ’ s competitive advantages , cites government support , access to capital markets and the banking system
( due to legalisation ), and a unified market , that is not hampered by state / federal conflict as has been the case in the United States ).
Canada can expect competition , however , from other jurisdictions where relevant legislation is being rapidly liberalised , in particular the United States .
ISRAEL
As we have seen , Israel has been a global leader in research and development of medicinal cannabis and recognition of its beneficial attributes . As a result , its medicinal cannabis programme was introduced in the early 1990 ’ s .
The country has stayed in the vanguard of legalisation , permitting recreational use of cannabis from April 2019 .
GERMANY
Germany was one of the first countries to advocate for CBD legalisation in Europe , and it has developed a diverse CBD product market , both off and online .
In 2017 the German government amended its Narcotics Law to make a clear distinction between cannabis for medical and non-medical use . This resulted in the legalisation of medicinal cannabis , with a licensing scheme for production , and prescription only by medical practitioners .
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