As the world continues to catch on regarding the remarkable uses for cannabis as medicine, more countries that produce the herb are looking to capitalize on the increasing demand for the substance.
Case-in-point is the land down-under, Australia. The country already has a robust medical research sector for cannabis, examining its uses in the treatment of autism, cancer, and a list of other conditions. Now, Australia is poised to be a dominant force in the global export of medical marijuana.
Our goal is very clear, to give farmers and producers the best shot at being the world's number one exporter of medicinal cannabis, said Australia's Health Minister Greg Hunt.
Hunt went on to add that the move is a very important step for Australia's medical marijuana patients. By knowing they have an Australian market and an international market, that improves the likelihood of growing and production in Australia.
In order for Australian companies to participate in cannabis exports, they must first meet the demands of their domestic market as part of the deal.
Although Minister Hunt has high hopes for his country in the export market, Australian producers have a lot of catching up to do. For example, Canada has a long list of quality medical marijuana producers.
One of those cultivators is INDIVA Limited, based out of London Ontario. The company just achieved a massive round of financing, is trading on the TSX Venture Exchange, and also has its sights on global exports for its products.
Other countries that have joined the cannabis export club include the Netherlands, Uruguay, and soon to be Israel. The Middle Eastern country recently reclassified cannabis cultivation to its farming sector to make the process easier for Israeli farmers to legally cultivate, manufacture and ship the medicine domestically and soon internationally.
Australia legalized medical marijuana on Feb. 24 2016 at the federal level and its neighbour New Zealand is in the process of considering legislation to do the same.