Recently, officials from Jamaica established new cannabis standards to allow local producers to expand into global cannabis markets. Rules previously put in place made it hard for small and medium-sized local producers to export their product.The cabinet of Jamaica clearly believes that now is the right time for the island to supply its high-grade cannabis to neighboring countries in order increase its exports.

As for now, Jamaica does not aim to supply the drug for recreational use like Canada does, however a green light for medical and scientific supply lines is a starting point. The aim of the new regulation is to up the standards and improve quality, thus open the doors to the global medical marijuana market. According to the minister of state, the aim is to ‘increase export and develop global reputation’. Additionally, looking at Amsterdam’s success authorities are aiming to boost tourism, via simplifying the rules and increasing the quality.

This week, US based Star Buds, one of the world’s largest cannabis retailers opened its first dispensary in Kingston, Jamaica. Star buds is among the first handful of American companies to receive a license to operate in Jamaica. The company is contributing to the local economy by buying its industry-standard produce from local cultivators, branding and distributing to their large clientele. Amidst growing interest from foreign companies in Jamaica‚Äôs produce the newly introduced quality controls has given birth to a whole whole new field of business in the EM cannabis market.

Get our Emerging Markets updates for free every morning!

Leave a Reply

Your email address will not be published.