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Medical marijuana production in Italy may triple in 2020 as the government aims to lesser its reliance on imports, according to Marijuana Business Daily.
The only organization with the license to cultivate medical cannabis in Italy, Stabilimento Chimico Farmaceutico di Firenze (SCFF), was recently authorized by Italy's health ministry to produce 500 kilograms of cannabis flower in 2020, the publication said.
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This year's production is reportedly expected to total less than 200 kilograms.
Last year, 578 kilograms of medical marijuana were sold to patients in Italy, and it is estimated the sum will be much bigger for 2019. This indicates that domestic production has not met the demand in the country.
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“Imports will continue to be needed because planned domestic production won’t be enough,” Giuseppe Libutti, an Italian business lawyer, told Marijuana Business Daily.
Most of the imported medical marijuana in Italy is from the Netherlands. Aurora Cannabis Inc (NYSE:ACB) is the only Canadian company to supply medical cannabis in Italy.
SCFF and the Italian region of Tuscany joined together to work on the production of medical cannabis and to produce evidence of its efficacy and safety, Marijuana Business Daily reported.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.