Cannabis in France: A unique tale of progress, challenges and opportunities
Speaking at the Analytical Cannabis Expo Europe Online 2021, Benjamin-Alexandre Jeanroy, CEO at Augur Associates presented an update on cannabis in France.
Abstract: On the outside, France may seem like a tough nut to crack: more than half of the adult population has tried cannabis in their life while the country’s cannabis law remains one of the most prohibitive on the continent ; medical cannabis is now legal but only for 3 000 patients on a two years trial basis that somehow succeeded in getting medical cannabis products for free for the whole run ; or yet an astonishing victory by two French entrepreneurs at the EU court of justice establishing ground rules for the european CBD industry, while the French government is dragging its feet on establishing proper advanguardist regulation.
But look deeper and a vast array of opportunities are seemingly arising. Did you know that a committee is being set up at the national health agency to implement guidelines for a medical cannabis production scheme ? That the wellness hemp market is on the rise with shops growing like mushrooms getting closer to a market consolidation phase, while online sales are skyrocketing, and a growing number of innovative companies are being built up ? Or that the first financial fund dedicated to cannabis in Europe has based its office in Paris ; or that France does not enforce Novel Food regulation ?
With France's next presidential election coming in a couple of months, a deep-dive analysis of the policy and socio-economic dimensions of the cannabis issue in the country remains crucial for observers. France considered itself unique and will do things its way, no matter what. The key needed here is contextually based strategy and operation for the industry within several potentially huge markets. But far from being it, the interest must not be limited to national boundaries. What France does, will, and already impacts what the EU and its member States will do around cannabis. For better or worse, you need to count France in.