Australia is picking up the speed in its legalization efforts…
The United States and Canada are clearly leading the pack in cannabis legalization, but Australia is working on carving out a profitable niche for itself in the global cannabis market.
Australian company Little Green Pharma just completed its first-ever commercial export of medical cannabis oil to the United Kingdom, and now the Australia Health Department is proposing to move CBD to a Schedule 3 substance from a Schedule 4 substance.
With a Schedule 4 substance in Australia, it’s only available with a prescription. With a Schedule 3 substance, no prescription is required as long as it meets a few conditions.
That opens up a whole new market for CBD companies.
It also proves that legalization is spreading beyond North America and that the global market for cannabis is just starting to sprout.
If you’re interested in the global cannabis market, make sure to bookmark our “Globalization” page.
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April 28 2020