In this survey initiated by enquête québécoise sur le cannabis, there was reportedly no increase in marijuana use among young adults and teens. However, for those aged between 35-55 years, consumption exhibited a significant increase. Not confined to consumption, the survey also shed light on changing patterns in usage methods, with oral drops, capsules, and beverages emerging as popular options.
Marijuana acquired from illicit sources also saw a decline, from 27% in 2018 to a mere 7% in 2022. A statement from the CIUSSS du Centre-Sud-de-l’Île-de-Montréal emphasized that legalization did not lead to trivializing cannabis use. Instead, Montreal residents were more aware of the health risks associated with such consumption.
In Morocco, King Mohammed VI has named Mohamed El Guerrouj as the General Director of the Morocco National Agency for Regulation Cannabis-Related Activities (ANRAC). El Guerrouj, who already held the position of interim director from Sep 2022, is well-versed in development and agriculture. Morocco put its foot forward in marijuana legalization when the parliament voted in favour of its use for cosmetic, industrial, and medical purposes in 2021, followed by the establishment of ANRAC in 2022. They further progressed when they set up the nation’s first laboratory for industrial and medical marijuana.
Meanwhile, in Guam, the Cannabis Control Board expressed concern over the approval of a single applicant for a marijuana testing facility. It is mandatory for the laboratory to test locally grown marijuana for contaminants before they hit the market. Among 12 organizations trying to establish cultivation centers, manufacturing businesses, and shops, only Pacific Analytical Services was looking to open a local cannabis testing lab.
In the wake of Amsterdam taking a back seat, South Africa and Thailand are emerging as the potential new capitals of cannabis tourism. Despite its legalization, the South African government is reportedly not supportive of the industry’s growth. The licensing process for medical cannabis cultivation or export can take up to 22 months without guaranteed approval.
Other impediments include ongoing arrests of marijuana consumers, maintaining criminal records of past cannabis users, and criminalizing indigenous groups historically involved in marijuana farming. Legal experts are concerned about the impact this could have on budding tourism markets.
Fiji is considering establishing a medical cannabis industry, but strictly for export purposes, without any allowances for local consumption. The aim is to diversify the economy, with medical marijuana operations handled by experts.
Lastly, Montevideo in Uruguay launched a technical dialogue on cannabis policies this week, co-organized by the European Monitoring Center for Drugs and Drug Addiction and the Uruguayan Junta Nacional de Drogas.
It allows participants to visit key Uruguayan organizations and institutions involved in the marijuana landscape, including law enforcement entities, regulatory authorities, private companies, and non-profit organizations.
The cannabis market continues to develop globally, proving profitable for many investors. Benzinga, a renowned investment advice provider, suggests that the time to invest in the cannabis sector is now, as the stocks are currently undervalued and ripe for tremendous growth.
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