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Home 🌿 Medical Cannabis News 🌿 Intoxicating financial prospects for ganja trade - Changing foreign laws seen as business opportunity 🌿Intoxicating financial prospects for ganja trade - Changing foreign laws seen as business opportunity
Richard Browne, Business Reporter
The legalisation of marijuana for recreational purposes in the state of Colorado, United States, has pushed prices up to US$400 (J$42,448) per ounce as demand quickly outpaced supply in that market.
The price spike has created a differential between legal Colorado marijuana and the illegal Jamaican product of some $41,988 per ounce, and has given even greater impetus to the drive to legalise the crop here.
Those efforts were previously held back as Jamaica was "always concerned about US policy", said Delano Seiveright, director for the Ganja Law Reform Coalition.
But the movement has been gathering strength over the last two years, since the US states of Colorado and Washington started to legalise marijuana in 2012, Seiveright said.
Tourism would be one of the industries to benefit most if and when ganja is legalised here. Then, visitors could legally use ganja for recreational purposes "creating many...
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