Jamaica Sees A Rise In Regulated Cannabis Commerce Over The Last Year

This MJ Biz special report is worth a read if you are interested in the Jamaica market.

Over the past few years manynorth American outfits tried to enter the Jamaican market expecting quick returns and were sorely dispapointed forgetting that Jamiaca operates on island time.

We’d also suggest the arrogance of US & Candian companies run in the main by white men with a semi colonialist economic thinking weren’t actually aware that Jamaica is quite capable of doing things their way even if it doesn’t quite jibe with the MBA cult crowd.

The numbers aren’t huge but it is good to see that Jamaica is finding its own path and preserving its identity in the rough and tumble world of commercial cannabis

 

MJ Biz report..

The total value of trade between Jamaica’s cannabis industry license holders was approximately $1.34 million from May 2019 through July 2020, according to recent figures provided  by the Cannabis Licensing Authority (CLA) to Marijuana Business Daily.

The figure excludes retail herb house sales and covers trading among license holders only, the CLA said.

July’s total of about $74,500 is an increase from June’s $51,500, demonstrating steady industry growth despite persistent banking challenges.

The CLA also provided an updated account of licenses issued as of July 31.

The CLA – an agency of the Ministry of Industry, Commerce, Agriculture and Fisheries – has issued 11 first-tier licenses for cultivation up to 1 acre (0.4 hectares), 10 second-tier licenses for cultivation between 1 and 5 acres, and seven third-tier licenses for cultivation over 5 acres.

That means Jamaica added six cultivators since last September.

Full article at

Jamaica reports $1.3 million in B2B cannabis trade as license issuances rise

 

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