NEWS

Dr. Henry Lowe Laments Marijuana Cost Structure In Jamaica

Dr. Henry Lowe, Executive Chairman of Medicanja, lamented the cost structure of the marijuana setup in Jamaica and its negative effect on small players in the market.

Lowe’s lament came on the back of more complaints and criticisms from stakeholders about the fees charged by the Cannabis Licensing Authority for the various categories of licenses.

He argued that there must be immediate changes if the Jamaican government wants to see small farmers and businesses enjoying a piece of the rapidly expanding marijuana market.

He noted that overseas investors stand to benefit more from the current marijuana setup in Jamaica given their resources and the leverage it affords them.

Moreover, he stated that the industry does not have the interest of smaller players at heart.

“How do you find all these U.S. dollars, the cost involved. Even for me, the number of licenses I applied for, it’s quite a strain,” he noted.

Lowe appealed to the government to adjust the cost structure to allow for easier access to the “little man,” rather than leaving him behind or out of the market.

He also underscored the point that many of the people currently with a license are not citizens but foreigners.

Dr. Lowe observed that ultimately one could see most people competing at the same level which will not augur well for the industry.

“Everybody is bunching at the bottom, everybody is trying to be a grower, everybody is making oils…but…as the system become(s) more and more liberalized, you’re going to find that the competition becomes greater and greater and people who jumped in figuring they could make money will be left behind, left out because others would have gone ahead,” he posited.

Readers Bureau, Contributor

Edited by Jesus Chan

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