MJBizMag September 2020 - 68

AFFAIRS
FOREIGN
Five Countries to Watch
From pilot programs to legal recreational cannabis, these international markets
have long-term potential
By Alfredo Pascual
P
atience might prove to be a virtue
when it comes to the five nations
outlined here.
These countries don't offer cannabis
entrepreneurs an opportunity to cash in
quickly-at least not yet. Rather, the five
selected countries, which span from Europe
to Latin America and Oceania, are
worth keeping tabs on for their potential
business opportunities down the road.
Other European countries will be
closely watching the pilot program, and
its results will likely be part of any future
legalization debate on the continent.
The Dutch government is expected to
select up to 10 companies to participate
in the pilot program before the end of
2020. The application process to become
a legal grower ended July 28.
Selected growers will supply around
80 coffee shops in 10 municipalities
that would, in turn, sell the products
to consumers. All coffee shops in the
municipalities that joined the experiment
must abandon their illegal suppliers.
None of the 10 participating
THE NETHERLANDS
2019 Population: 17.3 million
2019 Gross Domestic Product:
$909.1 billion
2020 Projected GDP (% Change):
-7.7%
Sources: World Bank and International
Monetary Fund
For decades, Dutch authorities have
tolerated the sale of recreational
cannabis in cafes under certain
conditions. But wholesale cultivation
and sales were illegal.
Now, the Dutch government is rolling
out a novel experiment to permit
the legal production of recreational
marijuana that will be sold in select
coffee shops.
Despite its limited scope and
duration, the experiment is important:
If all goes as planned, the first legal,
commercial marijuana plants will be
grown and harvested in Europe in 2021.
68 Marijuana Business Magazine | September 2020
municipalities are among the top Dutch
cities by population, such as Amsterdam
and Rotterdam.
Price, THC and CBD content will
largely depend on supply and demand
rather than government regulations.
The government estimates a
minimum production of 65,000
kilograms (143,300 pounds) per year
will be needed from the growers. This
assumes each of the 80 coffee shops has
an average turnover of about 1 kilogram
per day, 20% of which is hashish.
However, the growers won't be
obligated to each grow 6,500 kilograms
during the trial, nor will they have any
guarantee they will be able to sell their
cannabis crop.
The experiment will last four years
but can be extended for another year
and a half.
A government-appointed committee
will conduct an independent assessment
at the end of the trial. As a result, the
legalization debate will likely be on hold
as evidence is compiled.
Unless current laws are changed, once
the experiment is over, the country will
Aurora Cannabis halted
construction on the second
phase of its Danish cultivation
facility in late 2019. Courtesy Photo

MJBizMag September 2020

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