Top Canadian Cannabis Producers Caught In International Controversy Over Imports - BZAM Ltd Ordinary Shar

A group of Canadian cannabis producers found themselves in hot water after the commissioner of Israel’s Trade Levies Unit launched an "anti-dumping" investigation related to the import of medical cannabis from Canada, as reported by Marijuana Business Daily's Matt Lamers.

Danny Tal, director of import administration at Israel's Ministry of Economy and Industry, said in a letter addressed to Michael Mancini, chief commercial counselor for the Embassy of Canada in Israel, that he has found a connection between these imports and damaging effects on Israel’s domestic cannabis industry.

"I wish to inform you that after I found that special circumstances exist, I have decided to initiate an Anti-Dumping investigation concerning the importation of medical cannabis from Canada," Tal said. "Our findings, regarding whether there is dumping, consequent injury and the duty required, will be determined on the basis of best information available."

The investigation was initiated following reports from Israeli companies that allegedly face financial losses due to competition with low-priced Canadian imports, wrote Israeli Cannabis Magazine. According to data from Health Canada, roughly 21,000 kilograms (21 metric tons) of cannabis was imported by Israel from Canada for both commercial and scientific purposes in 2023.

The period of investigation for anti-dumping activities will be between Jan. 1, 2023 and Dec. 31, 2023, and for damages to local business between Jan. 1, 2021 to Dec. 31, 2023.

The following companies have a 30-day deadline to submit "information, evidence and their arguments” in addition to answering a questionnaire:

Auxly Cannabis Group (OTCQB:CBWTF)
Canopy Growth Corp (NYSE:CGC) (TSX:WEED)
Cronos Group Inc (NASDAQ:CRON)
Decibel Cannabis Company Inc. (TSXV:DB) (OTCQB:DBCCF)
Organigram Holdings Inc. (NASDAQ:OGI)
SNDL Inc. (NASDAQ:SNDL)
Tilray Brands Inc (NASDAQ:TLRY) and its subsidiary, HEXO Corp.
Village Farms International, Inc. (NASDAQ:VFF)
The Green Organic Dutchman, a Mississauga, Ontario-based company that rebranded to BZAM Ltd. (OTCQX:BZAMF) (CSE:BZAM) in 2022.

Cannabis In Israel

In the meantime, according to Prohibition Partners' new Israel Cannabis Report, the cannabis market in the Middle-Eastern country is set to double in 2024. In 2023, the market boasted 137,940 patients in 2023.

One of the first countries to recognize the benefits of medical cannabis in the 1990s, Israel is set to see exponential growth in the burgeoning market as a new set of reforms set to be implemented over the coming months.

Recent regulatory reforms approved by the Israeli Ministry of Health allowed physicians to prescribe cannabis to patients as a first-line treatment. Moreover, the country has seen a significant increase in the number of licensed medical cannabis patients in the wake of the war in Gaza, particularly those linked with PTSD and pain management

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Photo: Courtesy of Taylor Brandon on Unsplash

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