From this same Sunday, January 10, 2021, Australia takes another step on the road to the liberation of cannabis. Since the government passed federal legislation that allows the drug to be grown for medicinal purposes.
The Office of Drug Control will begin accepting applications for licenses for cannabis cultivation this Monday. Licenses can be requested by any type of person or organization. They must show that they will supply it to a licensed medical cannabis researcher or manufacturer.
You will also need to pass an “appropriate person test” and demonstrate that the proposed growing site is safe. As we see everything organized under a studied regulation. Information sessions on the licensing scheme have attracted hundreds of interested people, from international companies to small operators.
Real Cases
Lucy Haslam is one of the promoters of the national movement for the legalization of medical cannabis. She became part of it after her son Daniel developed bowel cancer. Smoking marijuana alleviated nausea, vomiting, and poor appetite caused by chemotherapy.
The Haslams have bought a farm to grow a crop, but now they feel there may be no place for them in the big investment industry.
“It has the potential to be a cutthroat industry,” Lucy Haslam told ABC in an interview. “We’re seeing big companies coming in that are very financially capable. They are looking to invest in Australia, so there is a risk that it is the money rather than the patients.“
Cannabis Companies
There are currently three medical cannabis companies listed on the Australian Stock Exchange and a fourth which will be listed shortly.
Tom Richardson of investment group The Motley Fool Australia said the domestic market for medicinal cannabis could be worth more than $ 75 million a year.
“The United States has a well-established cannabis market and there is no reason to assume that consumer demand or product prices in Australia will be different in relation to the population differences of the two countries,” he said.
It is therefore time to start developing the Australian market and it represents a golden opportunity for investors.
