As the acceptance and legalization of cannabis progress, we’re all wondering what will become of this industry. The two most prominent questions: Will international cannabis manufacturing end domestic cultivation and sales? And if so, what effect will that have on states, like California and Colorado, who have based their economies around it? The answer is no. But it will leave the U.S. out of a profitable industry. Experts estimate the global market to reach nearly $200 billion by 2028.
Can The U.S. Import or Export Cannabis?
In the United States, cannabis is 100% illegal at a federal level. This means no one can import or export cannabis internationally or even state-to-state. As the international market grows, the U.S. is getting no cut of the action. The country’s already late to the growing industry, and a lack of federal changes keeps it out of the global sales.
What Countries Allow Cannabis Manufacturing?
The laws in the U.S. are a stark contrast to Uruguay, which passed a landmark bill legalizing both domestic and international cannabis trade. It has a booming export business with $7.3 million in 2020. It exports to countries with medical programs, such as Australia. If you’re running low on concentrates, you might want to know, “How do you get the last bit of wax out of a cartridge?”
Jordan Lewis, CEO of Uruguay-based Fotmer Life Sciences, explains,
“Our goal is to create a billion-dollar industry here in Uruguay in the next five to seven years.”
Countries with longstanding medical marijuana programs have laid the groundwork for legal cannabis exports and imports. Canada now has a vibrant medical and recreational industry.
Germany is a top importer of cannabis for its medical program. In 2020, the country imported nearly 10,000KG of flower for manufacturing.
Africa is also getting in on the export and manufacturing business. Morocco is a large producer of cannabis and hashish, but it’s not a legal market. As more African countries legalize, joining South Africa, these illicit suppliers will gain a foothold in legal sales. Learn how to smoke the last bit of oil in a cartridge to save money.
In Israel, where many of the world’s medical cannabis research crops are grown, laws have been passed to export both seeds and finished products.
Columbia is also going legit, with legal cultivation and fewer restrictions on exports. Given the excellent growing conditions in Columbia, the country is on track to have a lucrative cannabis export business.
What Does the Future Hold for the U.S.?
It might seem like the U.S. will get left behind in this lucrative industry, but that’s not necessarily true. The cannabis trend is only growing, and the laws are changing around the country. As more states legalize adult-use cannabis programs, it will bring money for state economies. A cut of that billion-dollar global market would be a big payoff for states dependent on federal legalization. Answer the question, “can you hit a cartridge with a lighter” and other vital pieces of knowledge here.