MEDS: Why Invest in the Jamaican Cannabis Industry
Jamaica has something no other country in the world does – a synonymous relation with cannabis that is admired and respected. Thanks to reggae and Rasta over the past 60 years, every non-Jamaican wants to experience smoking Jamaican cannabis. This creates both an enviable aura and an amazing prospect of what is possible for Jamaica’s cannabis brand.
Here are four reasons it’s worth investing in the local industry:
Jamaica has one of the lowest cannabis production costs in the world thanks to its year-round tropical climate. Many leading cannabis producers rely on indoor grow with help of high-wattage bulbs, which means increased power consumption.
Most local companies, on the other hand, use greenhouse technology or traditional earth farming. With local medical ganja selling for roughly US$10 a gram (the same or more compared to Canada and the USA), investors can potentially reap higher margins with a local company.
Exports coming soon
The world wants Jamaican ganja and passing of the export bill will make that reality. The cannabis import/export bill is in the final stages of completion and may be finalized before year-end. This means potent, sun-grown Jamaican cannabis and cannabis oil, with its unique chemical profile, can be accessed worldwide, creating a global marketplace and the opportunity for increased revenue.
With more countries legalizing cannabis and creating industries, only a few will rise to the top as standout brands. Jamaican companies are well-positioned to be among the most sought after because cannabis is in the country’s DNA. This provides marketing leverage and credibility other countries will have to spend decades building. That reputation can be converted to revenue with the right approach.
The Government was strategic in writing the laws to protect Jamaican interest in the emerging cannabis industry. By law, all cannabis companies must be substantially (more than 50 per cent) owned by Jamaicans. This is a way for Jamaican investors to truly own their cannabis industry and add to the historic narrative of Ganja in Jamaica.