New data from Health Canada has revealed that Australia and Israel were the top buyers of Canada’s medical marijuana exports in 2022. Figures shared through MJBizDaily show that the two nations were the largest markets for Canadian medical cannabis importers amid a surge in cannabis exports from Canada.

Medical cannabis flower exports from the North American nation totaled around 132,200 pounds for fiscal year April 2022 through March 2023 and went up by 48% from the previous fiscal year’s roughly 90,000 pounds. Close to 80% of medical marijuana flower exports from Canada (104,000 pounds) went to Australia and Israel and 16% (21,000 pounds) went to Germany.

Canada has exported 277,000 pounds (126,025 kilograms) of medical marijuana flower for commercial and scientific use since 2017, MJBizDaily reports. The value of Canada’s medical marijuana exports in 2022 also increased by 50% from the fiscal year 2021–2022 to around $118 million. However, while players in the cannabis industry are likely pleased with the increased international demand for their cannabis flower, relying on three nations for the majority of exports puts the Canadian medical marijuana export segment at significant risk.

According to Miguel Martin, the CEO of Edmonton, Canada, cannabis producer Aurora Cannabis, investing in medical marijuana flower exports is a “long-term play.” He noted that export margins are 2.5 times higher than margins in the local recreational marijuana market and are “not declining.”

Although Australia and Israel were both major importers of Canadian medical cannabis flower, Australia imported most of Canada’s cannabis extracts in 2022. Of the 2,388 gallons of medical cannabis extract Canada exported last year, 2,217 gallons went to Australia followed by the Cayman Islands at 845 gallons, and Brazil, Barbados and South Africa at 35 gallons, 27 gallons and 23 gallons respectively.

Cannabis producers in Canada have become increasingly focused on the international market due to higher margins compared to the Canadian market, which is plagued with issues such as oversaturation and oversupply. Additionally, excise taxes levied by Canadian authorities on cannabis products reduce margins for cannabis producers in local markets and incentivize them to seek business partnerships with buyers in other nations.

Thanks to significantly reduced competition in foreign markets such as Israel and Australia, Canadian medical cannabis exporters don’t have to worry about sharing their market with an increasing number of sellers. However, nations such as Denmark and Columbia are becoming increasingly relevant in the global cannabis trade and may soon begin eating into Canada’s market share. Companies such as SNDL Inc. (NASDAQ: SNDL) therefore have to step up their innovativeness even more in order to stay ahead of the competition.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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A recent study published in the “Cancer” Journal explores the potential advantages of utilizing cannabis for children undergoing cancer treatment, a group that contends with various symptoms resulting from the disease and its therapies. However, while promising, further exploration into appropriate dosing and safety is imperative.

Advances in diagnostics, surgery and radiation have elevated survival rates among pediatric cancer patients. Nevertheless, progress brings its own set of issues, including anorexia, pain, vomiting and nausea, which prove challenging to manage. Cannabis derivatives have emerged as a strategy to alleviate these symptoms in young cancer patients. However, its safety, effectiveness and dosing in this demographic remain largely uncharted.

The authors of the study note that “pediatric oncologists remain cautious about cannabis due to the dearth of substantiated evidence affirming its safety and efficacy within this context. There’s an urgency to comprehensively examine the current landscape of cannabinoid application in pediatric cancer, guiding the evolution of clinical trials scrutinizing the impact of diverse cannabis products on safety, dosing, and efficacy for this demographic.”

Researchers from the University of Manitoba undertook a systematic meta-analysis and review to evaluate the body of literature concerning the use of medicinal marijuana for alleviating symptoms in pediatric cancer cases. They drew upon resources such as the Cochrane Library, PsycINFO, Embase and MEDLINE.

A total of 34,611 citations were examined, involving various cannabis strains, quantities, forms, administration methods and indications, as well as clinical and demographic attributes. These citations also encompass documented efficacy outcomes and any resultant unfavorable incidents. From those, 19 studies along with 1,927 participants were considered suitable for the study.

Within these studies, diverse marijuana products emerged as potential solutions for tackling distinct symptoms. Primarily, cannabis demonstrated efficacy in countering chemotherapy-induced vomiting and nausea. The side effects linked to cannabis usage include dry mouth, drowsiness and vertigo. Importantly, none of the studies documented any severe adversities linked to cannabis use in alleviating cancer-related symptoms in pediatric patients.

Lead author Lauren E. Kelly, PhD, acknowledged the challenges in measuring overall advantages due to disparate outcomes and study designs. Kelly noted, “While interventions with active control groups showed the superiority of cannabinoids in countering nausea and vomiting, data scarcity persists concerning cannabinoids’ influence on sleep, mood, pain, and the holistic quality of life.”

The study’s limitations included the count of studies within the review, outcome reporting inconsistencies, and the absence of case-controlled or cohort studies in the analysis.

Kelly emphasized the pivotal importance of conducting more rigorous investigations into the effects of cannabinoids on pediatric cancer patients and sharing such findings with the healthcare sector, patients and parents, given the varying experiences reported by children in terms of benefits and adverse events.

As more information becomes available regarding the therapeutic potential of cannabis for specific groups or demographics of patients, marijuana companies such as SNDL Inc. (NASDAQ: SNDL) could tweak their products in order to avail the most suitable product to address the specific symptoms of those patients.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive SMS alerts from CNW, text CANNABIS to 844-397-5787 (U.S. Mobile Phones Only)

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