Market Update
Tena tatou e pae nei, ahakoa nga piki me nga heke o te wa kei te koke tonu a Rua ki te pae tawhiti.
Greetings to all who gather here, despite the peaks and troughs of late Rua is still aiming for the far horizon
Rua is facing a range of compelling opportunities in the international medicinal cannabis industry, as we continue to use our experience and networks to bring RUA products to key international markets. Despite recent international events, and ongoing rhetoric around economic slowdown globally, medicinal cannabis continues to show strong signs of maturity and growth, particularly in Europe.
We have 17 products in 5 different markets, providing a healthy diversification of revenue streams. The recent establishment of RUA genetics in Canada, the largest cannabis market in the world (outside of the USA), represents a significant milestone for the company.
We’re celebrating Rua’s entry into Canada, the world’s largest cannabis market outside of the USA
Germany
Germany continues to demonstrate continued strong signs of growth. Feedback from the recent International Cannabis conference in Berlin this month suggests that planned regulation reform in the country will not proceed as initially expected and significant changes seem unlikely.
This has given distributors renewed optimism and clear paths for marketing opportunities.
During the course of the regulation review, distributors reduced stock and imports were scaled back, causing strong competition amongst importers. While the market remains competitive, there’s a strong demand for consistent and reliable suppliers.
Australia
The Australian market has experienced a significant contraction in prescribing volumes as the TGA conducts a consultation to review the safety and regulatory oversight of unapproved medicinal cannabis products.
The review is expected to take a number of months after which we expect a market reset. With the changes in prescribing levels that have ensued, we have reviewed our distribution model and are working to establish our products in new clinic chains.
New Zealand
Recent data from the Ministry of Health suggests a strong market. Rua has a number of new products in the pipeline, which we plan to bring to market in coming months, following Ministry approval. We are well positioned to take advantage of the new opportunities emerging with Helius Therapeutics having gone into administration last month.
Czechia
This is a small, emerging market and as one of the first entrants, Rua is well positioned to capitalise on anticipated growth with our distribution partner Motagon. We have new products planned for May, which we believe will increase our sales in this market.
United Kingdom
The UK market is growing strongly. Rua has launched its products and established the brand in the market with a small range of oil products via Target Healthcare. As we look to expand, we are reviewing our distribution agreement to incorporate our unique genetics via new channels and clinic chains.
Tu Wairua Wananga
The Tu Wairua Project is holding a wananga this Saturday 2nd May, 9am - 1.30pm at the Rongohaere Marae in Ruatorea and you are invited.
Tu Wairua is a community research collaboration led by Rangiwaho hapu of Ngai Tamanuhiri. It seeks to improve whanau health and wellbeing (specifically methamphetamine addiction) by exploring and developing tikanga and matauranga regarding Aotearoa's psychedelic fungi under a psychedelic-assisted therapy framework.
The half-day wananga will include presentations about the kaupapa and a tour of Rua Bioscience's mushroom cultivation facility in Ruatorea.
If you would like to attend, please RSVP to will@t-j.co.nz for catering purposes.
Ma te huruhuru te manu ka rere, kia tau nga manaakitanga ki runga i a tatou, hei konei ra mo tenei wa.
It is the feathers that aid the bird to fly, may blessings be upon us all, goodbye for now.