Investing in Cannabis in Italy
One privately held Australian Cannabis Company is making a big impact in the emerging cannabis and hemp industry in Italy. Known as MOCA, Medicinal Organic Cannabis Australia is helping to restore the industrial cannabis growth and all indications are that it would have a huge economic impact on Italy. Italy is a European forerunner on cannabis legislation, with medical cannabis available since 2013. The Italian Ministry of Defense cultivate and manage cannabis in a military base, which limits the amounts available, other products are imported from suppliers worldwide
The market in Italy is opening up both in terms of import and export to cannabis products from all over the world. Including of course, Canada and the United States.
MOCA CEO and Managing Director, Cav. Alessandro Sorbello says, “The European Union is expected to become the largest medical cannabis market in the world driven by medical cannabis availability via government-and private healthcare subsidized systems.”
According to Brightfield research, the market is worth $416 million this year. Small in comparison with $5.7 billion in the U.S., however, CBD is broadly legal across Europe, and the market is anticipated to grow rapidly based on the following Key Trends in the European Cannabis Market
1. The European cannabis industry grew more in 2018 than it did in the prior six years combined
2. Public acceptance of cannabis grows in alignment with new scientific discoveries. Social and commercial benefits from cannabis becomes more widely known to domestic consumers.
3. Changes in legislation fuels grown in various nations
4. Huge international investment in 2018 in the European cannabis industry
5. Cannabis competes with traditional Pharmaceuticals as a lower cost alternative.
One of the most lucrative markets emerging worldwide reside in Europe, which is read for a host of new cannabis based medicines. A proven and cost effective alternative for pain relief, anxiety and depression. European socialized government-sponsored healthcare programs will require government approval for use of cannabis.MOCA’s CEO is clear on why his company is making investments and partnerships in Europe. “With a population approximately double that of the US and Canada combined, Europe is home to more than 740 million people. Cowen Research indicates that the US market will exceed $75 billion by 2030, Europe holds a much greater potential for growth and market competition. Europe is the most important international cannabis market, and here will emerge the business environment for creating the largest cannabis companies. We intend to lead the way in the cultivation and production of organic cannabis”
His company is cultivating over 300 hectares of CBD rich cannabis plants in Italy. The benchmark is that in Europe, medical cannabis is a pharmaceutical product and thus all production must be GMP certified in the European Union.