Deputy Kirsten Morel has stated that the medicinal cannabis industry in the island nation of Jersey has now started to yield positive results, although as the industry began its journey there were many hurdles to navigate such as high start-up costs, strict regulatory minefields both domestic and international, and other problems like building appropriate infrastructure.
In 2021, as part of a wider economic program to diversify its rural economy, Jersey issued its first commercial medicinal cannabis cultivation licenses to businesses including local firm Northern Leaf. And in November 2023 the first legal export of medicinal cannabis products was made to the UK.
Deputy Morel said there has been an estimated £60 million of inward investment so far into the medicinal cannabis industry and it will become a ‘significant’ part of the economy. Now these companies are starting to see returns on those investments.
Chief Minister Lyndon Farnham said to the Jersey Evening Post, “The reason for that is because, ultimately, it’s creating a high-value crop which is in demand. We expect that demand to grow over the years, particularly as many more countries around the world allow medicinal cannabis prescription etc. So the long-term outlook is a good one.”
He continued: “I imagine on the part of the companies, there’s been a lot of learning as they’re going – and also from the perspective of government. So I’m not surprised that, at the moment, we’re not seeing the full impact of revenue back into the Island from sales of cannabis – because we’re really only at the beginning of that.”
However, some residents of Jersey are not as happy with the progress being made in the cannabis industry. Speaking on Reddit, Oldschoolvibes said, “Mixed messages from Jersey. On one hand “clamping down” on medical cannabis because in 30 cases out of 1000s, someone has managed to get more than one prescription in the same month, on the other hand, the vultures are out and wanting to make themselves and their chums even richer from MC [medicinal cannabis].”
This story first appeared on leafie, view here
Author: Kevin Dinneen
