Swiss Citizens Consume About 56 Tons of Hemp Annually
On June 22nd, the Swiss government announced that it would lift the ban on the use of cannabis for medical purposes, according to an amendment to the Swiss Narcotics Act, which parliament approved in March 2021. According to Agence France Presse, the government “intends to make it easier for patients to access cannabis for medical use.” According to a recent study, Swiss citizens consume about 56 tons of cannabis a year.
A new study indicates that Swiss citizens consume nearly 60 tons of cannabis per year, and the legal cannabis products industry containing less than 1% THC generates nearly one billion Swiss francs annually.
The European continent is undergoing a significant change when it comes to cannabis policy, and in many ways, Switzerland is at the forefront of this change. Cannabis products with low THC content (less than 1%), such as dried CBD, have been legally bought and sold throughout Switzerland since 2017.
A team of researchers from UNIGE and the EBP consulting firm recently conducted a survey examining the impact of current laws and policies on Switzerland’s economy.
“The Federal Office of Public Health (FOPH), in cooperation with the cantons of Geneva, Basel-City and the cities of Bern and Zurich, funded the study, which shows previously unavailable information from an economic perspective,” reads the survey results.
Read more on the subject and find the most important cannabis news from around the world with the Hemp.im mobile app.
The findings came at a time when the National Assembly’s social and health affairs committee recently launched a legislative proposal to legalize cannabis
One of the main findings of the survey is that Swiss citizens consume about 56 tons of cannabis per year, and the cannabis industry in Switzerland generates an annual turnover of about one billion Swiss francs, the study by the University of Geneva and the EBP consulting firm shows.
The study found that the cannabis industry’s “total gross value added” to the Swiss economy was comparable to the country’s production of automobiles and auto parts and that the cannabis industry’s labor force “is similar to the employment generated by Swiss insurance companies.”
The findings came at a time when the National Assembly’s social and health affairs committee recently launched a legislative proposal to legalize cannabis. The results show that the current illegal market is a burden on public costs, while the legal cannabis industry generates large profits and reduces the burden of retaining cannabis consumers.
“We, therefore, need a well-regulated market that ensures the protection of children and young people,” – Adrian Gschwend, head of policy and implementation at FOPH, said.
“This study […] provides essential information on the economic impact of current and alternative regulatory scenarios that will add new quality to the legislative process for regulating cannabis in Switzerland,” Dr. Sandro Cattacin, a full professor at the Department of Sociology at the University of Geneva, said in a summary of the study.
Medical cannabis in Switzerland
On June 22nd, the Swiss government announced that it would lift the ban on the use of cannabis for medical purposes, according to an amendment to the Swiss Narcotics Act, which parliament approved in March 2021. According to Agence France Presse, the government “intends to make it easier for patients to access cannabis for medical use.”
“The decision to use a cannabis-based drug for therapeutic purposes will rest with the doctor in consultation with the patient,” the government said of the amendment. As of August 1st, patients will no longer need to obtain approval from the Federal Office of Public Health (FOPH). However, the sale and consumption of adult-use cannabis will still remain illegal.
(Featured image by Erin_Hinterland via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in FaktyKonopne, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 22]
This week we're waking the dead as we go back to the metaverse baby. With Apple soon announcing its long-awaited...
Bullish on Bitcoin? – Blackrock CEO Warns of “Debt Ceiling Drama”
Many bitcoin and cryptocurrency investor advocates view BTC as a hedge against inflation and debt concerns, especially as central banks...
Docline Prepares a New Round of 6 Million for 2024
Docline maintains an agreement with Mapfre, with whom it offers digital health programs to the company's policyholders; with the Ballesol retirement...
Cedacri Prices New €275M Bond to Pay €50M Tax and €150M Extra Dividend
As stated in the Report to Cedacri's 2022 Annual Report, and as recalled in the release in which Moody's assigned...
Bierzo Aire Limpio Starts Crowdfunding to Support the Legal Defense of the Environment
The NGO holds an assembly that includes a state-wide meeting against waste incineration, debates on wind and solar macro-projects, and...
Biotech2 weeks ago
Boehringer Ingelheim Invests 46 Million in R&D in 2022 in Spain
Biotech4 days ago
Netpharmalab Reaches €3 Million in 2022 and Anticipates a 16% Increase in 2023
Biotech2 weeks ago
Almirall Projects to Reach Revenues of €1 Billion in 2025
Africa2 days ago
Green Hydrogen: How Can Morocco Meet 4 to 8% of Global Demand?