Cannabis sales internationally currently exceed $10 Billion dollars
Cannabis sales internationally currently exceed $10 Billion dollars and are projected to reach $31.5B by 2021 (Forbes). However few producers currently have the capacity or capability to supply growing international demand. Several Canadian, European, Israeli and Australian companies have engaged in international trade deals, however these have mostly occurred between affiliates, or comprised small volumes of final product forms. This means that establishing a fair market price for international wholesale (10s, 100s or 1000s of kg upward) of cannabis is difficult. A true market price requires liquidity, volume, transparency and open participation, none of which currently exist in the industry.
International Cannabis Legalities
Cultivation, manufacturing and trade of medical cannabis is bound by international law including the UN International Drug Control Conventions (Single Convention on Narcotic Drugs; Convention on Psychotropic Substances; Convention against the Illicit Traffic in Narcotic Drugs and Psychotropic Substances) as well as relevant national and state legal frameworks and health department regulations. As a result the international legal situation is highly complex, constantly evolving and poorly understood.