Australian Medicinal Cannabis Exports Surge Amid Rising Demand

Germany’s demand for Australian-grown medicinal cannabis is skyrocketing as relaxed regulations triple market needs in just 10 months. One major importer, seeking consistent supply, is urging its Australian partner to expand production to keep up with the surge.

Germany does not produce its own medicinal cannabis and instead imports it from sources like Australia, South Africa, and Colombia. The reclassification of cannabis from a narcotic has significantly simplified prescriptions, resulting in a tenfold increase in sales.

This shift is benefitting Australian Natural Therapeutics Group (ANTG), a Byron Bay-based exporter, which just renewed a $150 million contract with its German partner. With production set to expand from 3 to 10 tonnes within the next 12 to 18 months, the company is evaluating a major capital raise to support growth.

While medicinal cannabis remains illegal for recreational use in most countries, regulatory changes are driving up demand for its medical applications, including pain relief and sleep improvement. Meanwhile, Australia still imports more cannabis than it exports, but with production ramping up, that balance may soon change.

Source: Australian Financial Review