Village Farms International, Inc. (NASDAQ:VFF), through its majority-owned subsidiary Leli Holland, is preparing to enter the Dutch recreational cannabis market following the Netherlands' recent expansion of its legal cannabis program. With one of ten licenses to cultivate and distribute cannabis, Village Farms plans to start production in Drachten in Q4 2024, with sales beginning in Q1 2025, the company said in a press release on Thursday.
Michael DeGiglio, president and CEO of Village Farms, highlighted the strategic importance of the Netherlands in the company's international cannabis program, aiming to build on its Canadian success to deliver high-quality products to the Dutch market.
"The Netherlands is a core part of our expanding international cannabis program, which includes both recreational and medicinal markets. We look forward to building on our unmatched success in Canada to contribute high-quality, innovative and safe cannabis products to the Dutch Program when we enter the recreational market there early next year. In addition to our Netherlands production, we are leveraging our position as one of the few Canadian producers with EU-GMP certification for other existing European markets and new opportunities as they unfold," he said.
The Dutch Cannabis Program
The Netherlands' Controlled Cannabis Supply Chain Experiment has expanded to ten municipalities, enhancing the quality and diversity of cannabis products available. The program mandates strict testing and packaging regulations, with a minimum annual supply requirement of 65,000 kilograms of dried flower from the approved producers.
Navigating Regulatory and Market Challenges
Despite political resistance, the Dutch government's pilot project continues, with evaluations scheduled to determine its future. Village Farms' entry into this regulated market underscores its adaptability and forward-thinking strategy, positioning itself as a key player in the international cannabis industry.
Cover image created with AI
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.