Germany & Denmark among the major destination markets.

Huge increase of Canada’s medical cannabis oil exports in Europe was recorded for 2019.  Canada exported five times more, medical cannabis oil, from 920 liters in 2018 to 5,372.3 liters in 2019.

Australia and Europe were the two main export markets.

21% of all exported oil was shipped to Germany and Denmark with 790 liters and 336 liters, respectively. Medical Cannabis oil products were shipped additionally to more than 10 other countries.

According to data of Health Canada, cannabis oil products were approved for export to at least 17 countries for medical and scientific purposes in 2019.

Health Canada approved about 12,887.86 liters of cannabis oil products for export in 2019, but the actual shipments in the end of the year reached 50% of the approved quantity.

That doesn’t necessarily mean the remainder quantity has not been exported, as there is always a lag between the issuance of an export permit and when the export occurs.

Facts regarding Oil products

• The growth in medical cannabis oil exports continued to outpace the growth of dried cannabis exports.
• In 2019, Canada exported almost double quantity of cannabis oil (5,372.3 liters which is the equivalent of 4,996 kg) comparing to the quantity of dried cannabis flower (3,740 kg)
• 160% increase in dried flower exports over 2018’s, whereas oil exports increased more than five times over the same period.
• Bulk exports involved a few countries, showing that commercializing medical cannabis exports, in large quantities, remains much easier said than done.

Countries such as Australia, Colombia, Jamaica and Portugal are gearing up to jump into the export market. There is the belief that oil is becoming more appealing to other countries for medicinal use as people don’t always want to inhale dried cannabis and that there is a wider market, a higher price point and it is easier to import and export medical cannabis oil products. Furthermore, there are still countries lacking production of dried flower and oil products (Germany, Italy etc.), so they’re going to look to other countries to be able to obtain those products.

In conclusion, this exponential growth in Canada’s medical oil products to Europe might indicate a growing trend towards oil products.

VK PREMIUM guides investors to successfully produce high THC oil products and help them seize the wave.

We offer an enhanced palette of consulting services to facilitate medical cannabis investments in Greece, including strategy & planning, products portfolio as of current & future market trends, licensing, grants utilizing Investment Incentive Law, design & construction of the facility in accordance with EU GMP & GACP standards and distribution strategies to secure sales success in foreign markets.

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