Licences approved as St Vincent's Cannabis industry opens
St Vincent’s Medicinal Marijuana industry is a go.
Over 30 licences have been approved by the Medicinal Cannabis Authority (MCA) for the cultivation, development and export of medicinal marijuana products.
The MCA said in a release that it has approved licences for eight local farmers’ producer cooperatives with an aggregated membership of over 100 traditional cultivators; traditional cultivators of cannabis who applied individually; three non-traditional local farmers; and 10 companies with the directorship of nationals from the OECS, CARICOM, North America, Europe and Africa.
Of these companies, there are three Class E licences (valuing EC$2.67 million each), two Class D (valuing EC$1 million each), three Class C (valuing EC$500,000 each), one Class B (valuing EC$250,000 each) and one with Class A (valuing $100,000).
The MCA said in addition to supplying the local demand, these companies have identified markets in CARICOM, North America and Europe for export of high-quality medicinal cannabis products that meet international standards.
Among those receiving licences is the Nyahbinghy Order of Rastafari, RastafariFarms, Cannabis Revival Committee (CRC), SVG RastafariAgri, Grieggs Rastafari progressive society, FancyCooperative, Herbs R Us and South Rivers Producers’ Cooperative.
“The dedicated work in mobilising traditional cultivators nationally, in the ongoing process of ensuring full participation of traditional cultivators in the emerging medicinal cannabis industry, assisted in producing the successful results,” the MCA said.
MCA said based on the applications currently under review it projects that by September an additional 200 traditional cultivators will obtain cultivation licences.
The MCA, acting on the advice of the Cabinet, will announce the date for the operationalisation of the Cannabis Cultivation (Amnesty) Act. Sensitisation meetings will recommence July 24 to update the general public of activities taking place within the medicinal cannabis industry.