Cannabis News

Recent industry report about Cannabis company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Cannabis Market industry experts.

Cannabis News

June 2021: Canopy Growth, one of the largest global cannabis companies, announced that it had completed the acquisition of The Supreme Cannabis Company and acquired 100% of the issued and outstanding common shares of Supreme.

March 2021: STADA Arzneimittel AG, one of Germany's largest pharmaceutical firms, entered the medical cannabis space with an agreement with Canadian firm MediPharm Labs to launch two flower products and six more products to follow.

May 2021: TCV Sciences Inc. announced the launch of PLUSCBD calm and sleep gummies, two flavorful gummies that support healthy stress responses and sleep cycles for people returning to their regular routines.

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  • February 2023: With Colombia's first flower exports nearly 55 years ago and the Colombian Association of Flower Exporters (Asocolflores) celebrating its 50th anniversary this year, an important topic looms: succession planning. This is critical to a company's long-term viability, especially with many family-owned businesses in Colombia. However, a smooth transition can be challenging to achieve.
  • November 2022: The value of Colombia flower exports in the first 11 months of 2021 an increase of more than USD 250 million compared to the same period the previous year - a 20% growth that is due to higher prices and a 17% increase in the volume of exports, which hit 266.5 million kilos during last year's surveyed period.
  • February 2022: According to the National Administrative Department of Statistics (DANE), Colombia traded nearly USD 890 million flowers between January and February 2022, generating thousands of jobs and millions of dollars in revenue.
  • June 2022: During the first six months of 2022, the exports of cashew nuts from the United States to other countries decreased due to the higher raw material price, with no increase in the selling price of processed products. The reduction in imports from Vietnam and Brazil is also the major reason for the decline in the market.
  • May 2022: The Department of Agriculture of the United States (USDA) started a new campaign on Cashew nuts, financing a total of USD 38 million, with implementation by LIFFT-Cashew in the SEGABI (Senegal, Gambia Guinea-Bissau) region. The project is expected to increase production and trade between the United States and SEGABI region.
  • July 2022: The Ethiopian Coffee and Tea Authority (ECTA) released a new, comprehensive strategy for the country's coffee sector, which was developed in collaboration with the Ethiopian Institute of Agriculture Research (EIAR) and international nonprofit TechnoServe to increase coffee production by three times within next 10 years.
  • July 2022: The Indian Government planned to repeal the existing 80-year-old Coffee Act and proposed a new 'Coffee Promotion and Development Bill, 2022' to promote the development of the Indian coffee industry. Through a new law, the government aims to modernize the functioning of the Coffee Board of India, which is responsible for boosting production and the quality of Indian coffee, pushing exports, and supporting the development of the domestic market.
  • July 2021: The Rainforest Alliance launched a new sustainability certification program for coffee to promote sustainable farming practices and ensure that coffee farmers receive fair product prices.
  • February 2022: A new two-year project was launched in the United States. The aim of this project was to establish a viable nut-growing and processing center in the Finger Lakes. This project opened door to new revenue streams for farmers and offered a replicable economic and environmentally sound production model for the Northeast. 
  • November 2021: Chestnut Strategy Investment Plan(SIP)-The chestnut SIP 2022-2026 Horticulture Innovation Australia Limited(Hort Innovation) invested in Chestnut Fund. The key focus for the SIP is to grow the chestnut industry by focusing on reducing crop losses through the implementation of sustainable pest and disease management practices. 
  • August 2022: Lynch Group Holdings distributed millions of perishable flowers in the retailers of Australia and China have a shelf-life of 5-7 days. The Sydney-based company has made business opportunities in China, believing that the boom in middle-class consumption will boost flower demand. Lynch's USD 206 million capital raising through its IPO was partly about acquiring 80% of VDB, a premium rose grower in Asia.
  • January 2022: Australian investment firm Alceon Group acquired Sydney-based garden center chain Flower Power which could value the retailer and its properties at close to USD 500 million to escalate flower business in the country.
  • October 2021: For the 2020-21 season, the United States Department of Agriculture (USDA) reported that US imports of Chilean cherries totaled about 6,800 metric tons. While China has been the main receiver of Chilean cherries, the industry is working diligently to develop other markets, including the United States.
  • July 2021: Modern intensive cherry orchards have recently begun to appear in Uzbekistan, overlapping with the traditional technology of growing, harvesting, sorting, packing, and sales in Fergana Valley, to provide the bulk of the production and exports of cherries from Uzbekistan across the globe.
  • December 2020: The Chile and Trade Commission, ProChile introduced Chilean cherries in the Indian market. Prochile and India Marketing Representative also launched an exclusive retail promotion campaign - "Cherry-sh Every Moment," to target premium consumers.
  • August 2022: Fiji Yam Farmers Association (FYFA) association, an affiliate of the Fiji Crop and Livestock Council (FCLC), serves the needs of yam farmers and provides a channel of communication for sale and reproduction.
  • May 2021: Yam farmers in the Wenchi Municipality of the Bono region, Ghana, adopted the best scientific production methods such as trellised and ridging planting technology to enhance their competitiveness in the global market.
  • April 2021: The farmers from Murang'a county of Kenya opted to uproot their coffee bushes and embarked on aerial yam farming, a unique crop in the region to supply adequate water for irrigation during the dry period with less labor-intensive expenses.
  • February 2023: In Norway, exports of whole herring fish have jumped high with the export prices reaching four months high and prices at the lowest in the domestic market since the start of the year.
  • December 2022: The European Union, Norway, Greenland, Faroe Iceland, United Kingdom and Iceland signed an agreement on 2023 quotas with a total quota of 511,171 metric ton of herring. This agreement was based on the advice of the International Council for the Exploration of the Sea (ICES).
  • May 2022: Darling Ingredients acquired Fasa Group for USD 560 million to expand its geographical presence and new product offerings in the global blood meal market.
  • January 2020: Darling Ingredients acquired 100% equity in EnviroFlight and increased its investment in innovative specialty proteins and feed sustainability.
  • February 2023: Indian finance minister announced to reduce customs duty on shrimp feed to promote exports. Aquaculture companies, shrimp farmers, and other farmers will get benefitted from it due to a reduction in the major input cost.
  • January 2023: India and the United States are working together to create a system that would allow Indian fishermen to export shrimp for American consumers. This was an area that was banned by the United States because of concerns about turtles, in the areas where wild caught shrimp was being fished. 

Cannabis Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)