20 September 2018_campuscad
Tilray Inc. the Canadian company has got permission to export the Cannabis to the US by DEA (Drug Enforcement Administration) and FDA.
Exported cannabis will be used strictly for medical purpose in the USA. Dr. Fatta Nahab, an associate professor of Neuroscience in Canadian university of San Diego’s medical school said, it’s first time DEA agreed to export the weed from foreign producer.
Canada already legalizes the use of weed for medical purpose since 2001. As a part of political campaign of President Justin Trudeau in 2015, promised to legalize the recreational cannabis in the country and in September 2018 senate passes the law to legalize the same.
What is recreational Cannabis?
It is used to alter the emotions, mind and mainly used to intentionally change the state of consciousness, producing the feeling of happiness and exhilaration.
Canada recently legalize the cannabis after Georgia, Uruguay and 9 other states from America. South Africa decriminalized the use of weed for private use on September 18, 2018.
You can legally possess 30 grams of weed and around 3-4 plants in your house. Government will allow private certified/licensed producer to create and sell the cannabis and wants to cut the money flowing to the black market, though Government will not promote it.
Post the news, the share market of the Canadian licensed weed producing companies surged almost 15-20% and investors are buying more and more stocks of Aurora Cannabis and Tilray Inc. Combine market capital of both the companies is almost $40 billion.
Coca Cola already in talks with Canadian companies to produce the cannabis infused drinks.
“The global industry is seeing the opportunity is cannabis, which could compete or replace the alcohol business, Corporate entities would not be interested if there wasn’t supported by the public.” Marc Lustig, CEO of CannaRoyalty said.
Current price for 1 gram of weed is $8 in Canada and due to high production; prices may go down as low as $2.5/gram.
In India, use of weed is illegal according to The Narcotic Drugs and Psychotropic Substances Act, 1985
Note: Story covered for information purpose only.