Pakistan buying Cannabis

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Pakistan buying Cannabis

It was the first time that Dhedhi, a Karachi-based entrepreneur, learned about the medicinal use of the cannabis derivative. On returning to Pakistan, the businessman ordered a small quantity of the oil from the United States. While his mother eventually passed away in , Dhedhi said he has since seen others get relief from CBD oil. The regulatory body will be overseen by a member board, which will include representatives from different government departments, intelligence agencies as well as the private sector. Unlike tetrahydrocannabinol THC , the primary psychoactive compound in the cannabis plant that gives users a high, CBD is not psychoactive and believed to have therapeutic effects. It is increasingly prescribed by doctors to help with anxiety, chronic and acute pain, and other medical conditions. Abidi said the country could use cultivation of the herb to its advantage and generate revenue through export, foreign investment and domestic sales to shore up its precarious foreign reserves. For the most part, governments have chosen to look away rather than crack down. But the February ordinance aims to change that. On the other hand, the new regulatory regime could give the government a clearer mandate to penalise those who produce cannabis without a licence. Licences, it is expected, will be issued for five-year periods. The federal government will designate areas where cannabis can be grown legally. Abidi said said that according to estimates, there are nearly 28, hectares 70, acres of land — mostly in Khyber Pakhtunkhwa and some in the southwestern province of Balochistan — where cannabis is grown. Dhedhi, the Karachi-based entrepreneur, agrees. He is partnering with farmers in both Khyber Pakhtunkhwa and Balochistan to help modernise their cultivation methods and improve the efficiency as well as the quality of the product. Cannabis in Pakistan is traditionally grown outdoors, relying on sunlight, and with minimal use of pesticides, fertilisers or any other chemical substances. This organic nature of Pakistani cannabis makes it different from that which is mass-produced in many other nations, but it also means that both the quality and quantity of the production are less reliable. More than 1,km miles north of Karachi is the Tirah Valley, a vast mountainous tract of land situated between the tribal districts of Khyber and Orakzai in Khyber Pakhtunkhwa. Most farmers in the region, he said, were unaware of the medicinal qualities of hemp and primarily grow the plant for its recreational characteristics, using traditional methods. Though cultivating cannabis has been illegal, Shah said he never faced any reprimand from the government. Still, farmers like him have faced other challenges. Cannabis cultivated in neighbouring Afghanistan — with even less government oversight — had previously meant that Pakistani cannabis faced tough competition in the local recreational use market. The neighbours have long had a fairly porous border. Globally, one litre 0. Robin Roy Krigslund-Hansen, the chief executive and co-founder of Formula Swiss , a Switzerland-based cannabis producer and global distributor, agreed. China is a major producer. Latin American countries are doing it as well. So, you have a lot of production from different countries, but when everybody is a producer and seller, then who will be the buyer? He questioned whether Pakistan had the capacity to produce medicinal-grade cannabis that could meet global standards. Shah, the farmer, said he is also developing indigenous ways to improve production methods with the help of entrepreneurs like Dhedhi and insisted that the organic, outdoor nature of Pakistani cannabis growth was its defining feature. Abidi, the board member, acknowledged the stigma associated with the use of cannabis products in a conservative society like Pakistan but said that the government was counting on growing awareness of the benefits of CBD among young people. By Abid Hussain. Published On 8 May 8 May Sponsored Content.

Pakistan bets on a cannabis high as its economy struggles

Pakistan buying Cannabis

Definition: The Cannabis market covers products derived from the cannabis plant used for medical or recreational purposes. These products may include dried flowers, oils, edibles, tinctures, and topicals. They may be consumed in the form of smoking, vaporizing, eating, or applying topically. The Medical and Pharmaceutical Cannabis markets include products used to treat conditions such as chronic pain, mental disorders, and other medical conditions. The Recreational Cannabis and the the CBD Products markets include products used for personal enjoyment or leisure purposes. All cannabis markets include various forms of cannabis such as flowers, concentrates, edibles, and topicals. Additional information: Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels excluding VAT. The Cannabis market in Pakistan has been experiencing notable growth and development in recent years. Customer preferences: Customers in Pakistan are increasingly showing interest in Cannabis products for medicinal and recreational purposes. The growing awareness about the potential health benefits of Cannabis is driving consumer preferences towards these products. Additionally, the cultural acceptance of Cannabis in certain regions of Pakistan is also influencing customer choices. Trends in the market: One of the key trends in the Cannabis market in Pakistan is the shift towards legalizing and regulating the production and sale of Cannabis products. This trend is in line with global movements towards decriminalization and legalization of Cannabis. As more countries around the world embrace Cannabis legalization, Pakistan is also exploring opportunities in this market. Local special circumstances: In Pakistan, the cultural and religious norms play a significant role in shaping the Cannabis market. While Cannabis remains illegal for recreational use in the country, there is a long history of Cannabis consumption for medicinal and traditional purposes. This unique cultural background creates a complex environment for the Cannabis market to operate in Pakistan. Underlying macroeconomic factors: The economic landscape in Pakistan is also impacting the Cannabis market in the country. With a large population and increasing urbanization, there is a growing market potential for Cannabis products. Moreover, the government's focus on economic development and job creation could lead to considerations for the legalization of Cannabis to boost the economy. Skip to main content. Market Insights Health. The revenue is expected to show an annual growth rate CAGR of Pakistan's cannabis market is experiencing a surge in demand for medical cannabis products amid evolving regulatory frameworks. Medical Technology. OTC Pharmaceuticals. Digital Health. Mental Health. Please wait. Region comparison. Analyst Opinion The Cannabis market in Pakistan has been experiencing notable growth and development in recent years. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually. Forecasts: In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Additional Notes: The market is updated twice per year in case market dynamics change. GCS data is reweighted for representativeness. Contact Get in touch with us. We are happy to help. Clicking on the following button will update the content below. Meredith Alda. Sales Manager — Contact United States. Yolanda Mega. Operations Manager — Contact Asia. Ayana Mizuno. Lodovica Biagi. Director of Operations — Contact Europe. Carolina Dulin. Get access. Already have an account?

Pakistan buying Cannabis