European Marijuana Business News

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Spain Makes World’s First THC-Free Cannabis Seeds

A Spanish company, Hemp Trading, has just made the world’s first THC-free cannabis seeds together with the Polytechnic University of Valencia.

The seeds, known as Panakeia, contain 0 THC but have 18% cannabigerol (CBG). CBG is a cannabinoid that is known for its therapeutic benefits, some of which include its ability to regulate moods, protect the brain, and many more.

These seeds are going to be introduced to hemp farmers in America, which will benefit them because current rules in the United States deem that hemp with over 0.3% THC must be destroyed due to cannabis’ illegal status at the federal level. These issues are controversial as it is, but it also requires laboratories that are testing crop samples to report “measurement of uncertainty” to them. What this means for hemp farmers is that they’d be protected from any criminal charges should their hemp THC levels test over the 0.3% limit, which is possible – after all, agriculture isn’t always an exact science.

However, working with Panakeia seeds means that these uncertainties will no longer happen. “Our company’s mission from the beginning has been to provide sustainable and modern solutions to mainstream agricultural practices, and I believe the Panakeia hemp variety will not only encourage more streamlined farming methods, but also introduce more Americans to even more of the potential wellness properties of the hemp plant,” explains Dr. Jonathan Vaught, CEO and co-founder of Front Range Biosciences.

Italian Government OK’s Home Growing

The 2019 holidays were momentous for Italy as this is when the Supreme Court approved the ruling making it legal to grow small amounts of cannabis at home meant for personal use.

They also stated that drug laws should be excluding “small amounts grown domestically for the exclusive use of the grower.” The ruling, though approved on the 19th of December, wasn’t made public until Christmas passed.

However, not everyone is happy about the news – conservative political parties were upset but advocates cheered it on. “Drugs cause harm, forget about growing them or buying them in shops,” exclaimed Matteo Salvini, who heads the far-right League Party. Salvini is one of the most outspoken against cannabis, and he even fought for the closure of legal cannabis shops.

On the other hand, many are rejoicing. “It’s the end of a nightmare,” says Luca Fiorentino, who founded Cannabidiol Distribution, a cannabis supply company. “After Salvini’s witch hunt I had to fire 10 people and I lost 68% of my revenues.”

Germany Court Rules CBD ‘Novel Food’

Late last year, a German court finally made the ruling that CBD products can now be considered either novel food or a prescription medicine. The ruling follows the European Union’s rule that CBD products as well as any derivatives of CBD can’t be legally sold if it doesn’t have safety research to back it up.

Additionally, the distinction for novel foods is assigned to products if they weren’t consumed significantly prior to 1997. Because of this old designation, CBD wasn’t widely marketed in the European Union without proper authorization, resulting in a widely unregulated CBD market in the continent.

According to German authorities, even if hemp isn’t a novel food itself, food items that contain hemp-derived cannabinoids are already considered a novel food.

Is North Macedonia A Risky Cannabis Market?

Smaller countries in Europe view cannabis as a way to boost their economy while attracting more capital and knowledge from operators in other countries. But for North Macedonia, getting to their own version of the green rush may not be easy.

“If we want to raise economy in North Macedonia, cannabis is the way to boost it,” says Venko Filipche, the healthcare minister of North Macedonia. Over 2 dozen companies have already been granted licenses to cultivate cannabis since 2016, while around 20 more are being processed.

“We think it will be a lucrative business,” explains Jane Sevdinski, who intends to invest around $1.5 million together with his business partner for massive greenhouses. “In about a year and a half, we expect to be profitable.”

But growers in the country will need from $700,000 to $1.5 million just to join the legal cannabis industry, as well as a license. For this reason, foreign investment is necessary, especially when you consider the fact that North Macedonia is one of the poorest countries in Europe. It makes it even more challenging when you take into consideration the many challenges to opening a cannabis shop; one of them include the fact that legally, they can only export extracted cannabis oil and not even flower.

Perhaps over the next few months (or years), North Macedonia gets the boost they need thanks to Canadian investments.

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