CLA licensees trade $84m in cannabis since May

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CLA licensees trade $84m in cannabis since May

Thursday, December 05, 2019

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KINGSTON, Jamaica — For the period May to November this year, trading among Cannabis Licensing Authority (CLA) licensees has been valued at US$629,000 (J$84.2 million).

In releasing the figures yesterday, the CLA noted that it does not include retail sales facilities to end users of the drug.

The disclosure was made by the CLA's Chief Executive Officer (CEO), Lincoln Allen, as the authority celebrated the granting of its 50th licence to Montego Bay-based Outlier Biopharma on Wednesday.

The CLA was created in 2015 and has been issuing licences, permits and authorisation for the handling of hemp and ganja for the past two years.

As at October 31, 2019, the authority had issued a total of 49 licences. Four more were issued Wednesday bringing the total to 53. There are a further 16 applications at the granted stage, that will be issued on the payment of the respective fees and security bonds.

In addition, there are 259 applications at the conditionally approved stage. This means the authority has verified the applicants as “fit and proper” to be part of the local cannabis industry, and the applicant can now confidently begin to build-out their facilities to be inspected for their licences to be granted and issued.

According to Chief Executive Officer (CEO), Lincoln Allen, in September the CLA completed detailed review of the draft Import/Export Regulations for the Cannabis Industry. The second draft is being prepared by the Chief Parliamentary Council (CPC).

He also announced that the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) and the CLA are working with the Ministry of Justice to promulgate hemp regulations, and aggressively pursuing the preparation of 'a transitional licence' type for small farmers specifically aimed at integrating these farmers into the existing regulatory framework.

Arrangement have also started to be made to facilitate a fully online application process in the near future.

Balford Henry

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