Village Farms Welcomes Positive Initial Findings from Dutch Cannabis Program

Village Farms International, Inc., one of ten licensed producers in the Netherlands' regulated cannabis program, has welcomed the initial findings from the government's evaluation of the program. The independent evaluation, conducted by the Trimbos Institute, RAND Europe, and Breuer & Intraval, found that the regulated supply chain is functioning positively and gaining consumer preference.

According to the evaluation, stakeholders across the supply chain, including growers, coffeeshops, municipalities, and regulators, reported positive experiences. The product range has expanded, with consumers rating the price-value more favorably than before the program began. There were no clear differences in public health, livability, or safety compared to non-participating municipalities.

Michael DeGiglio, President and CEO of Village Farms, commented, "The Dutch government's initiative to regulate the cannabis market is a historic undertaking. Replacing a tolerated supply chain with a regulated one is not an easy task, but the early success is encouraging. We are committed to being long-term community partners and will continue to collaborate with local stakeholders to build a successful program that protects consumers and creates economic benefits for the local communities."

Orville Bovenschen, President of Global Operations for Village Farms, highlighted the company's expertise in controlled environment agriculture and regulated markets. "Our team has worked closely with local municipalities to meet the requirements of this new regulated market. We are now encouraging the government to consider ways to create stronger consumer protections and expand the program to combat the illicit market."

Bovenschen added, "These positive initial results are an appropriate time for the government to begin discussing revisions to packaging and labeling requirements to avoid consumer preferences shifting to high potency products. We also see benefits in further expanding the program."

Village Farms International, a global leader in cannabis, plant-based consumer packaged goods, and sustainable innovation, operates one of the world's largest and most profitable cannabis operations. The company's Dutch facilities are part of its broader global portfolio, which includes operations in Canada, the United States, Australia, and Germany.

The evaluation of the Netherlands' regulated cannabis program marks a significant step in the country's efforts to regulate the cannabis market. Village Farms' commitment to the program and its long-term presence in the Dutch market underscores its dedication to contributing to the success of the initiative.