Cannabis Industry, Uncategorized

Germany close to legalizing recreational cannabis

According to the latest news leaked to the German press, the new German government that will take office shortly is going to carry out the legalization of cannabis for recreational use.

According to estimates, this may amount to € 3.4 billion in tax revenue and tens of thousands of jobs. If legalization is finally approved, Germany will definitely become the European engine of the cannabis industry and probably an excellent success story that other European countries will soon follow. It is also likely to push European regulation towards a new framework that encourages entrepreneurship and rapid growth in this sector in Europe, in order to create wealth and employment.

This milestone would open a new stage for the cannabis industry in Europe, which already had a first boost in 2017 when Germany legalized cannabis for medicinal use. With 83 million people and with cannabis legalized for both medicinal and recreational use, Germany has become a huge market that today already demands tens of thousands of kilograms of medicinal cannabis and that European and domestic production is not capable to supply.

This will make necessary for the German cannabis sector to turn to new international players in the production of cannabis, such as Colombia, which also has high levels of quality and very low production costs, better adapting to a more massive market which will require higher margins than currently obtained from Canadian imports.