Hikurangi Cannabis Company was asked by an international cannabis publication what we thought were the most important cannabis news in New Zealand last year and we what would happen in 2019 for cannabis in all forms (industrial, medical, recreational). Here’s what we said…
The most important developments in New Zealand for 2018 were:
- The coalition Government passed medicinal cannabis legislation that established a medical cannabis scheme to allow domestic production, deregulated CBD and allows locally sourced genetics to transition from the illicit to legal market;
- Medicinal cannabis cultivation licenses were issued to the first three New Zealand companies (30 applications have been submitted, 12 have been rejected or withdrawn so far);
- Hemp food regulations came into effect that allow for trade in foods and beverages (including limits on levels of CBD and THC);
- The Government confirmed a binding referendum on cannabis legalisation will take place at the 2020 general election.
Predictions for 2019:
- The first New Zealand made medicinal cannabis products will be taken to clinical trial and offered to patients as ‘unapproved’ medicines.
- Medicinal cannabis regulations will be set by December with input from industry, patients, medical professionals and academics.
- The first NZ cannabis companies will be publicly listed.
- There will be consolidation of existing companies into 3-4 serious players.
- A number of mergers, acquisitions and joint ventures between New Zealand companies and overseas partners will happen this year.
Do you agree with our assessment of 2018 and predictions for 2019?