Tag: oceania
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How Big Will Australia’s Legal Cannabis Market Be By 2030?
Australia’s medical cannabis market is one of the largest legal markets on the planet, with many companies based in other countries exporting medical cannabis products to Australia. Domestic medical cannabis production occurs in Australia as well. Australia’s medical cannabis industry imported over 42,000 kilos of medical cannabis products in 2023 alone. By comparison, Australia’s domestic medical cannabis…
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Oceania Industrial Hemp Market To Reach $130 Million By 2034
The industrial hemp market is far from being a new thing. To highlight that point, consider that archaeologists have discovered pieces of woven hemp fabric from ancient Mesopotamia in what is modern-day Iraq and Iran that date back to 8,000 BCE. Hemp can be used to make many different things, including textiles, medicine, and food…
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Legal Cannabis Sales Could Create 17,000 Jobs In Victoria
A concerted push has been underway to legalize cannabis for adult use in Australia, including in the Australian state of Victoria. According to a new report compiled and published by the Penington Institute, permitting legal adult-use cannabis sales could create a significant number of new jobs in the area. “Legalising cannabis for adult use could…
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Australia Is On Pace For 200,000 Medical Cannabis Approvals In 2025
Australia originally adopted its current medical cannabis legalization policy in 2016. The approved 2016 medical cannabis measure permitted registered healthcare professionals to prescribe cannabis-based products to suffering patients. Since that time, Australia’s medical cannabis market has increased in size and market value, and according to recently reported statistics, Australia is on pace to set a…
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New Zealand Ministry Of Health Data Demonstrates Medical Cannabis Industry Growth
New Zealand’s modern emerging medical cannabis industry largely got its start in 2020, although limited legal medical cannabis sales of Sativex occurred in New Zealand prior to that. New Zealand’s Ministry of Health states on its website, “The Medicinal Cannabis Scheme came into effect on 1 April 2020 with the commencement of the Misuse of…
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How Much Hemp Does Tasmania Grow?
Tasmania is an island state of Australia, located 240 kilometers to the south of the Australian mainland. Tasmania’s government is currently working to overhaul the Industrial Hemp Act 2015, which currently serves as the legal framework for Tasmania’s emerging hemp industry. “A recent report showed that Tasmanian hemp fields remained severely contracted in the 2023-2024…
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How Many Countries Have Legalized Medical Cannabis?
According to a recent study conducted by researchers from Ukraine and France, and published by the U.S. National Institute of Health, 57 countries have adopted medical cannabis legalization measures. Israel was the first country to adopt a national medical cannabis legalization measure (1999), and Ukraine was the most recent (2024) as of the posting of…
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How Much Tax Revenue Would Cannabis Legalization Generate In Australia?
Australia is home to a legal medical cannabis industry, with regulated medical cannabis approvals in Australia reaching 304,000 in the first half of 2023. That marked a 120% increase over the same period in 2022. “Rhys Cohen of the Victoria, Australia-based Penington Institute estimated that Australian patients spent roughly 250 million Australian dollars ($167 million)…