Jamaica Observer: KINGSTON — A Ganja Industry Development Task Force, which will draw on expertise to further growth of the industry, is advanced in its establishment by the Ministry of Industry, Investment and Commerce.
This is according to Portfolio Minister, Audley Shaw, who made the announcement during his contribution to the Sectoral Debate in the House of Representatives on Tuesday.
Noting that the global ganja industry is forecast to double in value with a worth of approximately US$42 billion in three years, the minister said the work of the task force will better enable Jamaica to take advantage of opportunities in the industry.
The minister said that despite the industry currently being dominated by the sale of ganja buds in dispensaries, its future success lies in cannabis by-products aimed at improving the quality of life of users.
These include nutraceuticals to treat a variety of common ailments and full spectrum cannabis oil that can be infused in tinctures, edibles and topicals.
“By embracing the full opportunities of the industry, we will grow the marketplace, generate increased revenue and enable job creation. Many of our local licensees have invested in technology that allows them to produce cannabis by-products in a safe and compliant manner,” Shaw said.
“The ministry recognises that in order for the industry to truly grow, we must urgently establish a framework in conjunction with the Ministry of Health and Wellness that sets out clear guidelines of how this will be accomplished,” he added.