Canada’s largest cannabis producer to enter UK market
Canada’s largest cannabis producer, InstaDose Pharma has confirmed that it will begin trading in the UK as it seeks to grow its global footprint and further cement its position as the industry’s leading force.
Headquartered in Burlington, Ontario the firm is the largest producer of cannabis oil in the world, with a 100,000 hectare production facility in the Democratic Republic of Congo (DRC) boasting a cultivation capacity of over 2,000,000 kilos of pure cannabis oil per year. It has a second 500 hectares facility in Colombia, producing over 30,000 kilos of cannabis oil per year.
There are thought to be around 3 million cannabis users in the UK with a domestic market worth £3.55bn per annum. The average UK consumer will pay around £10 per gram of cannabis but there is a growing demand for CBD oil, which is growing increasingly popular as more becomes known about its medical benefits. Last year, the World Health Association said that CBD oil may be helpful in treatment of symptoms relating to conditions like Alzheimer’s Disease, Parkinson’s Disease, MS, cancer, depression and anxiety.
According to official figures from the Cannabis Trades Association UK, the number of cannabidiol consumers doubled last year, up from 125,000 in 2017 to 250,000 in 2018.
The application of CBD oil for consumers is widespread and the oil is already being sourced by a number of industries, including the pharmaceutical, cosmetics and beverage industries. InstaDose Pharma is expecting exponential growth for high-grade CBD oil in the UK and through its network is already in discussions with a few UK participants for strategic partnerships.
Grant F Sanders, Chairman & CEO of InstaDose Pharma said, “The UK market is largely untapped given its infancy but we recognise its vast potential and see entrance into the UK market as key to our global expansion. We are the largest agricultural grower in the DRC and have a production capacity of up to 2,000,000 litres per year, producing CBD oil that is GMP certified and pharma grade 99.7% CBD, THC oil and CBD isolate.”