Prospects for developing a sustainable medicinal cannabis industry in Australia

M'Shenda Turner, Richard Culas

Research output: Contribution to journalArticlepeer-review

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Abstract

A new market for cannabis has opened for Australian cultivators due to domestic and global legislative changes. Growing cannabis for medicinal purposes requires licensing, stringent cultivation techniques, increased security and can have high set-up costs. In this paper, a critical review is undertaken of the current state of the Australian market. It is found that it is a market already dominated by large and experienced international companies; has relatively unknown supply, demand and price data (actual and forecast); and is in a state of constant change and uncertainty. The longer-term sustainability for this unique industry will require accessibility to reliable data, internationally competitive production costs, and sensible government regulation. International best practices must be used or adapted for Australian conditions to minimise environmental damage, and Australian patients must have ease of access to cannabis-derived products.
Original languageEnglish
Article number3
Pages (from-to)43-56
Number of pages13
JournalAustralasian Agribusiness Perspectives
Volume24
Issue number3
Publication statusPublished - 2021

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