Cannabis Reg. Update: New Zealand's 'Green Fairies' Continue To Supply Marijuana, Legalization Efforts In Bermuda & Portugal

Is Momentum To Legalize Marijuana Growing In Portugal?

The Left Bloc party in Portugal is renewing its calls for cannabis legalization, and it seems that in the summer months to come the issue will re-enter the political ring, High Times writes.

Commercial medical marijuana cultivation and extraction has flourished in Portugal since the debut of the Canadian cannabis giant Tilray Inc. TLRY in the South European country in early 2021.

Simultaneously, the widespread of cannabis nationwide has grown, with the legislature being expected to introduce and pass formal recreational reform legislation later that year, or at least by early 2022.

However, the whole idea was put on hold with the country’s government collapsing late in 2021, two years early, and the right-wing President Marcelo Rebelo de Sousa announcing a snap election to be held in January, reported Al Jazeera back then. The move, which was a response to a quarrel over the 2022 budget proposal that included tax cuts and increased public investment to stimulate the economy post-COVID, pushed the issue of marijuana legalization further down on the list of priorities.

“One year ago this week the initiative of the Left Block was debated in the parliament: the legalization of cannabis," Catarina Martins, Left Bloc member, said. "As you know, this process did not come to an end.”

Now, the Left Bloc is hoping it will get the much-needed support of the ruling Socialist Party to establish a formal industry.

“To defend public health is to end hypocrisy,” Martins added. “And we believe that there are now all the conditions to end this hypocrisy in Portugal. We know that there are so many people, on all sides of the parliament, which have already realized that the hypocrisy of prohibition has been a way of putting young people at risk.”

New Zealand’s ‘Green Faries’ Continue To Help Those In Need Despite The Threat Of Prosecution

New Zealand's first "legal weed" recently arrived in pharmacies in the form of tea as part of an agreement with the pharmaceutical company Australian Natural Therapeutics Group (ANTG).

The firm received approval from the Ministry of Health to sell its products to patients with chronic pain and a prescription. ANTGs stated it is the first company able to legally sell dried flowers in New Zealand, which will be accessed through New Zealand’s NUBU Pharmaceuticals.

While medical cannabis products are both available and accessible following the Misuse of Drugs (Medicinal Cannabis) Amendment Act of 2018 and the 2020 Medicinal Cannabis Scheme (MCS) becoming the law, many of those using cannabis to alleviate pain and the symptoms of debilitating illnesses are struggling to obtain it.

The much-needed help is coming from the so-called “green fairies” who manufacture quality products, though cultivate cannabis illegally and thus are under threat of prosecution, New Zealand Doctor writes.

Researchers from the University of Otago and Victoria University who have been exploring the therapeutic use of cannabis in New Zealand through interviews with people who have said that the stories about cannabis products being a “miracle” and a “life saver” only reflect how hard it is to access them outside the illicit market.

The main obstacle to obtaining prescribed cannabis products legally is the cost of roughly $200 per month. And there is the reluctance of GPs to prescribe them. Moreover, according to a study published in the New Zealand Medical Journal, less than 5% of those surveyed said they got their marijuana products via a GP.

Britain & Bermuda: Independence By Means Of Cannabis

Former Bermuda Premier Michael Dunkley said earlier that the Progressive Labour Party (PLP) government has been using the cannabis legalization momentum to break away from London.

Dunkley, who is currently Shadow Minister of National Security, said that the push for legalization was intended to “pick a fight” with Britain in an attempt to boost support for independence, writes The Royal Gazette.

Last month, Rena Lalgie, the first woman and first person of African heritage to be appointed governor of Bermuda, reserved Royal Assent on the measure - Cannabis Licensing Bill - that would make the use and production of marijuana legal.

“It’s a [Progressive Labour Party] aim to get independence, but they do not have the support of the people,” Dunkley said. ”So they are trying to create friction to try and build support.”

Dunkley proposed that the cannabis legalization bill needs to be revisited. “I believe the Bill can be amended to meet the challenges it faces,” he said.

Benzinga photo. Source: Image from Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisGovernmentNewsPenny StocksRegulationsPoliticsSmall CapMarketsGeneralAl JazeeraBermudaHigh Timesmarijuana legalizationMichael DunkleyNew ZealandNew Zealand DoctorportugalRena Lalgie
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on – Prices will increase very soon!