The newest announcement that Tilray has arranged the largest cross-European border transfer of medical cannabis to date is cause for celebration for more than just the two firms on either end of the deal. Cannamedical, the second oldest cannabis specialty distribution firm in Germany was on the other end of the deal.
The news is actually bigger than just this one announcement. It officially marks a new day in the greater cannabis industry in general.
There are many swirling currents in the international environment right now – perhaps the biggest of which are both CETA and the EU-US MRA Trade Agreement, which just kicked into full swing in July. That along with the 1961 Convention and existing MRA (pharmaceutical trade) agreements mean that there are new pathways for canna products opening up as reform hits on either or both ends of established pathways.
But as of this fall, much like the now melting icebergs are creating new transatlantic pathways through the Arctic, the cannabis industry is entering the marketplace through all sorts of interesting passageways, and there are plenty of treacherous, mostly submerged hazards to navigate.
Who Is Coming Up To The Plate?
‘Who is getting involved’ is an interesting question, as European farmers are realizing, pretty much all over the map, particularly on the large commercial greenhouse side of the equation, that they are also in the running for the medical business. If your main business is tomatoes or peppers, for example, medical cannabis crops sound like a compelling idea right now.
Cross European trade of EU certified crops is on the upswing in other words, just as South African and Australian producers are also entering the market. And Israel is, of course, waiting to pounce.
Certification Is Key
While EU GMP regulated CBD producers in the U.S. right now are lining up for a bonanza on the medical side, there are many in Europe who see the writing on the wall and are aiming to play the game too. Greek produced medical CBD for example, may well beat anything out of the U.S., at least on cost. And who knows? Most of Eastern Europe is still in the running as a dark horse candidate in the medical market as the attention of the big players shifts towards recreational reform.
Regardless, for those with the right certs and audits, the map is opening, and further on a fairly global way, for a new trade whose day has most certainly come.