(This is the second installment of a two-part series analyzing medical marijuana exports from Canada. Part I looked at dried cannabis. This story has been updated from a previous version.)
Exports of medical cannabis oil from Canada had a breakout year in 2017 – and executives say it is just the start for a massive new overseas market.
Medical cannabis exports in oil form rose 300% from 2016 levels, according to data shared with Marijuana Business Daily by Health Canada. Analysts expect this trend to continue as countries legalizing medical cannabis look to imports to meet demand in lieu of domestic cultivation.
“Countries like Malta have outright banned smoked forms of medical cannabis from being permitted within their legislation,” noted Deepak Anand, vice president of government relations for the consultancy Cannabis Compliance.