The World Health Foundation may have won one of their longest battle ever, well in one part of the world. Malawi set their eyes on marijuana crops instead of tobacco.
With all those anti-smoking campaign through out the world this African country starts to realize the impact it had on their economy. The authority of the country came out with a bill on legalizing industrial and medicinal hemp and it should be expected nationally pretty soon.
With a country that consist of 60% of their tobaccos international sales would be the logical alternative to venture with. Since July, the three biggest tobacco companies dropped by 20% their market value this year. According to data from S&P Global Market Intelligence, Altria the US maker of Marlboro, is down 18% and British American Tobacco, is down 22%.
Tobacco industry are suffering from the global shift that's occurring right now from smoking cigarette due to health concern. Let's take the United States for example dropping 67% since 1965 while 42% of Americans adults smoked. Now 14% of American Adults smokes on that 42%.
Times goes by and Malawi is feeling the drop on tobacco sales. In the auction stocks the value of kilogram was high and mighty with a astonish 1.58$. Now the price reached just below 80 cents a kg.
''We needed to have jumped on this window already,as it has been proven on the international market that the crop is lucrative, so to legalize this crop will be very vital for Malawi.'' says Boniface Kadzamila, a member of the parliament.
A crop acre of 2500 plants is estimated to 60k$ in the USA, in a legal hemp state. Compare it with a tobacco crop of 2500 plants is estimate to 5k$. It's a significant difference and could boost the country economy.
According to a South African-based Canadian investor, Graham Mackintosh of Green Quest Pharmaceuticals, think that Malawi has the perfect climate to grow the crops and should not miss on this opportunity.
''This crop has Cannabidiol oil , which is in high demand and it is estimated that in the next three years the CBD oil we extract from the crop is poised to grow at over 700%.'' Says Mackintosh.
Their counter part country like Zimbabwe, Morocco, Lesotho and South Africa all either legalized or thinking of legalizing marijuana farming.