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Legislators in New Mexico are sizing up the potential taxable market for recreational marijuana if the state moves forward with legalization proposals next year.
    
A panel of state lawmakers met Wednesday to hear testimony on the potential economic benefits of bringing recreational cannabis sales under state regulation and oversight.

Albuquerque city councilman Pat Davis is the chairman of the governor's Cannabis Legalization Working Group.

Farmers and ancillary hemp businesses are not happy with the THC testing standards outlined within the U.S. Department of Agriculture’s (USDA) interim federal rules for hemp production.

The rules require that hemp crops not exceed 0.3% total THC, which is derived from the sum of delta-9 THC and THCA content, on a dry weight basis.

A new law on cannabis legalization will address two issues many foreigners want to know: roles of foreigners in production of weed-based medicine, and how international travelers may bring medical cannabis with them into Thailand for personal use.

Firstly, foreigners will be able to own shares in commercial production of cannabis pharmaceuticals under a new regulation, as long as those shares doesn’t exceed 33 percent.

Canopy Growth Corp. took a surprise $32.7 million hit from returns and pricing changes related primarily to the sales of its oil and soft gel capsule products, resulting in the company’s net revenue plummeting by 15 per cent, quarter-over-quarter, for the period ending Sept. 30, 2019.

This is the biggest revenue decline the company has seen since legalization over a year ago.

Canopy reported a net revenue of $76.6 million, compared to $90.5 million in the previous quarter. The company’s net loss was $374 million.

QUJING, China—In China, marijuana is seen as a dangerous narcotic, and possession is strictly punished. That hasn’t stopped the country from trying to become a powerhouse in the fast-growing industry for cannabis products.

Declining cannabis prices could potentially leave some cannabis companies vulnerable to writedowns due to an accounting quirk that gives licensed producers significant latitude in valuing their assets before they are sold, say auditing experts. 

“If you’re still sitting on inventory when the price of cannabis goes down, and you can’t sell your inventory for that price, you’re going to see writedowns,” said Trisha LeBlanc, a partner at Grant Thornton LLP who leads the accounting firm’s cannabis group. 

Iowa farmers will have the opportunity next year to begin growing hemp.

Late last month, the U.S. Department of Agriculture issued regulations pertaining to the production of industrial hemp. The growth of the fairly new crop, licensing and testing procedures, and possible destruction of plants that fall short of tetrahydrocannabinol, or THC, requirements will be governed by the rules.

With the issuance of a wide-ranging ministry report on the medical cannabis industry, Israel is for the first time making clear its intention to back the burgeoning sector, according to a ministry official.