Cannabis Industry News This Week

News Americas, NEW YORK, NY, Thurs. Jan. 11, 2023: Here are the top cannabis industry headlines making marijuana industry news globally and in the Caribbean and Latin America this week in less than 60 seconds:

The Gangasagar fair returned to Kolkata, India on January 10 as Naga saints lit up at a transit camp for The Gangasagar Mela – an annual Hindu festival celebrated at Gangasagar, West Bengal, where the Ganges River converges with the Bay of Bengal. This event occurs yearly at Kapilmuni’s ashram on Gangasagar during Makar Sankranti.

Thailand is surprisingly canvassing public opinion on a draft bill outlawing recreational use of cannabis after more than a year in which marijuana-related businesses flourished following legalisation and insufficient regulation. The first Southeast Asian nation to decriminalise cannabis in 2021, Thailand spawned an industry worth up to a projected $1.2 billion in the next few years, as thousands of dispensaries sprang up, along with spas, restaurants and festivals.

Canadian cannabis producer Tilray Brands trimmed its loss to US $46.2 million in the second quarter of its 2024 fiscal year on the back of record net sales. Tilray reported second-quarter revenue of $193.8 million, a 34.4% improvement year-over-year – and in line with analysts’ expectations.

The US Department of Health and Human Services (HHS) has agreed to release documents related to its recommendation to federally reschedule marijuana “in their entirety” amid litigation over a Freedom of Information Act (FOIA) request that was filed by a lawyer last year.

Antigua & Barbuda’s government will establish a committee to review how the police handles cases involving marijuana, the effects of the law which allows persons to use cannabis in their homes, and whether youth misuse the provisions and abuse the substance. The body was established by the Cabinet and given a six-month mandate to produce its report.