Isracann Biosciences (IPOT.C) moves fast to handle growing domestic undersupply

Isracann Biosciences (IPOT.C) made the decision to go ahead and import their Canadian cannabis into Israel today, according to a press release.

It’s an entirely logical choice as the Israeli market of medical cannabis continues its pattern of rapid expansion, now having exceeded 80,000 medical patients and with domestic growers unable to cover the increased demand. This will give Isracann’s farm, going live soon, a serious competitive advantage.

“Our long-term relations in Canada have just provided us an opportunity which provides us great leverage. We gain a fast track to revenues by supplying highly desirable Canadian flower products to our medical market in Israel, build significant brand awareness in doing so, and have the decided advantage of having a processing facility operationally prepared that not only meets all our domestic regulatory QA needs, but also meets the European EU-GACP and EU-GMP requirements,” said Matt Chatterton, COO for Isracann.

Isracann Biosciences is a cannabis company operating out of Israel’s agriculture sector, which allows them to use developments inherent to the most experienced country in the world with respect to cannabis research. The company’s focus is on becoming a producer and distributor to major European marketplaces where demand hasn’t been met. This supply gap has created the cannabis importation market where IPOT thinks they can slot right into, filling the market niche with their premium cannabis.

There have been some further developments that aided in the creation of this importation market. Israel has become more reliant on cannabis importation to meet their domestic needs, and at present it’s the world’s largest important of cannabis flower, surpassing Germany. There’s also the point that Israel raised its importation quality assurance standards, which eliminated some candidate countries (such as Uruguay) from receiving an importation license. This bolstered the demand and facilitated acceptance of Canadian flower, which looks far more desirable in comparison.