A new report from the Global Cannabis Exchange (GCX) is highlighting how the emerging legal international cannabis industry is becoming more competitive, which is increasing the global cannabis supply and, in turn, lowering prices for wholesale cannabis due to price compression.
“Global market expansion has allowed an important outlet for wholesale flower from Canada and other producing countries to fulfill demand, mainly in Germany, UK and Australia. For the last few years, the supply chain has operated in a mutualistic relationship; Canada had a huge oversupply of cultivation leading to depressed domestic wholesale prices. This was paired with high domestic tax, immense LP competition, and a scorched-earth price war across the country at the retailer level, left the export market as an attractive growth option.” GCX wrote in its Fall 2026 Global Cannabis Report.
“At the same time, European buyers and patients benefited from a strong pipeline of high-quality product that met EU-GMP or local standards at competitive prices. As cultivation in emerging countries rolled out slowly, international buyers were willing to pay higher prices than Canadian domestic buyers, allowing them to
secure reliable supply and maintain strong margins.” the report continued.
Below are some of the major findings from the report:
- Low-THC (<20%) GACP flower imported into Germany ranges from €0.75–€2.05/g
- High-THC (>20%) GACP flower imported into Germany ranges from €1.00–€2.30/g
- Low-THC EU-GMP flower imported into Germany ranges from €1.75–€2.45/g
- High-THC EU-GMP flower imported into Germany ranges from €2.15–€3.55/g
- Wholesale GACP flower under 20% THC imported into the UK ranges from £0.90–£1.72/g
- Higher-THC wholesale GACP flower imported into the UK ranges from £1.64–£1.95/g
- Low-THC EU-GMP wholesale flower imported into the UK ranges from £1.20–£1.89/g
- High-THC EU-GMP wholesale flower imported into the UK ranges from £2.29–£3.25/g
- GACP-certified flower under 20% THC imported into Australia ranges from AUD 1.20–2.40/g
- High-THC GACP flower imported into Australia ranges from AUD 1.80–3.75/g
- Low-THC EU-GMP flower imported into Australia ranges from AUD 2.35–3.50/g
- High-THC EU-GMP flower imported into Australia ranges from AUD 1.90–4.80/g
Australia has experienced a major shift in the last couple of years in where its medical cannabis products are imported from. In 2024, Australia imported 62.1 tonnes of medical cannabis from Canada and only 1.1 tonnes from Thailand. In 2025, Australia imported 49.1 tonnes from Canada and 20.7 tonnes from Thailand.
Germany continues to dominate the global medical cannabis import/export market, serving as the top destination for legal products from other countries. According to BfArM, 67.569 tonnes of medical cannabis products were imported into Germany from other countries in Q1 2026 alone.
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