According to last week’s report from Reuters’ news agency, Malawi’s recent regulatory department for growth, processing, and retail of industrial hemp and medical cannabis stated that it’s planning to launch hemp commercial production within the country.
Reuters further reported that the Malawian ministry of agriculture stated that the licensing charges for the growth, storage, processing, distribution, and sale of medicinal cannabis or industrial hemp will range between USD100-10,000 annually.
Kadzamira Boniface, Malawi’s Cannabis Regulatory Authority board chair, disclosed that the department had acquired over 100 licensing applications. Kadzamira also said that their view as moderators is that when they get credible investors, the hemp sector will offset the export proceeds from tobacco and, in some instances, exceed it.
However, he adds that hemp won’t instantly replace tobacco.
Based on a Reuters report, the depreciating demand and adverse weather have supported Malawi’s decreasing tobacco revenue across the years. Malawi’s tobacco yield in 2020 declined by 31.3 percent, causing the country’s 26.4 percent decrease in total tobacco proceeds.
In February 2020, the country’s lawmakers accented a bill decriminalizing marijuana for industrial and medicinal applications.