"Australia: Medical marijuana will be "$100 million industry"

A white paper, Medicinal Cannabis in Australia: Science, Regulation and Industry, has given some shocking figures when it comes to the medical marijuana market in Australia. According to the estimates, Australians would consume up to 8,000kg of medical marijuana in the first year of the legalisation of cannabis for medical use. It would be a $100 million industry at the outset.

In order to meet the massive demand expected during the first year of Australia’s medical marijuana legalisation, experts believe that space at least three times the size of Sydney Cricket Ground would be required, that is, 51,000 square metres of greenhouse space.

The white paper was produced by University of Sydney Business School and MCG Pharmaceuticals, a medical cannabis company. It’s a first of its kind study where researchers studied the medicinal and economic benefits and logistic of Australia’s medical cannabis industry. The researchers studied the sales trends in countries where medical marijuana has been legalised, such as Netherlands, Canada and Israel, and used their data.

Read more at International Business Times