Title: Prospects for investment development in the hemp market in Poland – in practical and legal terms

Biography:

Patrycja G. Bartosz Burdiak is the Chairman of the Board of Orbis Cannabis Sp. z o.o. Legal Counsel. She is also Managing legal adviser in Bartosz-Burdiak Law Office;Expert of the Research, Studies and Legislation Center of the National Council of Legal Advisers; Member of the Professional Improvement Committee of the District Chamber of Legal Advisers in Warsaw; Member of the Polish Lawyers Association.

Abstract

Due to changes in legal regulations which entered into force in November 2017 (mainly the Act on counteracting drug addiction), Poland partially opened its market to some hemp products. It enabled to import hemp as raw medical material and bring it to pharmacies. At the end of October 2019, the first permission to distribute hemp flower in Poland was issued (to Spectrum Cannabis).

Cannabis cultivation for medical purposes is still prohibited, and the maximum THC level in products imported and sold in Poland is 0.2%. Before being sold to the patients, medical cannabis has to inter alia be approved by Office for Registration of Medicinal Products, Medical Devices and Biocidal Products.

Interest in the hemp market as an investment instrument is also increasing on the polish investment market. According to forecasts of some analysts, in the near future Poland may become a leading producer of hemp products. A favorable, moderate climate, beneficial changes in legal regulations, lower production costs compared to other european markets encourage foreign and polish investors and make this market very attractive.However, changes in Polish law allowed the cultivation, processing and sale of hemp to obtain CBD oil as an equally important cannabinoid. The popularity of hemp cultivation among polish farmers for the production of CBD (isolate, oil, etc.) has been increasing. This is noticeable in the size of the area that cannabis cultivation occupied in 2017 in comparison to 2019.