Business
Caribbean cannabis growers eye budding domestic sales and exports
Gemma HandyBusiness reporter, St John’s, Antigua
Gemma HandyRub the leaf and inhale the fragrance, Michaelus Tracey is saying.
The musky scent of this cannabis plant is distinctly different from the citrusy aroma of another that he is also holding.
To the untrained eye, the neat rows of flowering cannabis crops in front of us are indistinguishable from each other.
Yet master cultivator Tracey can identify the separate varieties by their smell and the shape of their leaves.
Nine strains are being grown here at Pineapple Road, a farm deep in the countryside on the Caribbean island of Antigua. The warm temperatures, abundant sunshine, and high humidity make this prime territory for growing the plants.
Intense trials were conducted to produce the various strains, Tracey explains. “We wanted different flavour profiles as well as different effects, but all with a medicinal value – something to help you relax, something to give you more energy, more pain relief, less anxiety.”
Gemma HandyLast year marked a decade since Jamaica decriminalised the recreational use of cannabis and legalised its production and sale for medical reasons. Several other Caribbean nations, including the twin island country Antigua and Barbuda in 2018, have since followed suit.
Smoking cannabis is emblematic of Caribbean culture, to the extent it has become a cliché. But while the region’s affection for the plant is well documented, its status as a leader in the field is less so.
Today the region is home to a plethora of legally registered cannabis farms and medicinal dispensaries, where both locals and tourists can purchase the drug if they have a valid medical authorisation card.
Yet Prof Rose-Marie Belle Antoine, an expert on the cannabis industry in the Caribbean, believes there needs to be further liberalisation.
“Decriminalisation isn’t good enough,” says Antoine, a former chair of the Caribbean Community’s Regional Commission on Marijuana. “We should just make it legal but regulated.”
Antoine is campus principal at the University of the West Indies in Trinidad, where researchers are due to start studying various potential benefits of cannabis.
Areas tipped for study range from alleviating the side effects of cancer treatment, to how the plant can boost agriculture by improving soil health. The research will take place in Antigua, where legislation is more progressive.
The work offers “a lot of potential”, she says, but adds that legalisation would make life easier.
“The Caribbean is a leader in cannabis, in terms of strains and knowledge, and it has a long tradition of this. But legalities, the ‘war on drugs’ and all that nonsense, stifled not just the industry, but research and development,” says Antoine.
Some in the region hope that US President Donald Trump’s executive order in December to reclassify cannabis as a lower-level drug will benefit the Caribbean.
“It’s a significant milestone,” says Alexandra Chong, chief executive of Jamaica-based business Jacana, which sells a range of products derived from cannabis, from extract oil drops to skin cream.
“So much US public policy gets filtered down to the Caribbean,” she says. “Because cannabis was classified as a schedule one drug alongside heroin in the US, regulatory bodies across the Caribbean have not been as bullish with [reducing] regulation.”
Chong adds that the US reducing cannabis to the lower schedule three level, which also includes combined paracetamol-codeine tablets, was “far more appropriate”.
The White House lowering the classification of cannabis may mean that in the future Caribbean nations can export the drug to the US for recreational use.
However, the importation of such cannabis into the US is currently still illegal under federal law. This is despite 24 US states having now legalised the use of the drug recreationally.
Producers in both Jamaica and Antigua are keen to start legally exporting the drug. Jamaica’s Cannabis Licensing Authority says it “has put in place interim administrative procedures to facilitate the export of ganja by licensees that hold a valid import permit from the country that the product will be exported to”.
Meanwhile, Antigua and Barbuda’s Medicinal Cannabis Authority is working hard to develop a cannabis export industry. “We already have the legal framework in place, a prime geographical location and an international airport,” the body’s chief executive Regis Burton tells the BBC.
He says it’s “highly likely” that Antigua will eventually be able to export its products, not least for the novelty value. “Very few people can say they’ve tried Antiguan cannabis,” he adds.
JacanaDomestically, high overheads in both Jamaica and Antigua and Barbuda – and rules that limit the sale of cannabis to people with medical approval – are said to be leaving most of the market to illegal producers.
Jacana estimates that more than 800,000 people a year in Jamaica use cannabis, of whom half are tourists. But that 90% of the 87 tonnes of the drug consumed per annum comes through illicit channels.
Chong adds that “over-regulation has strangled the industry. Over time it’s got easier, but it’s by no means perfect”.
She says that due to these problems, she estimates that of the 160-plus licences of various categories granted by Jamaica’s Cannabis Licensing Authority between 2017 and 2024, “very few” are still in operation.
In Antigua, Robert Hill, a consultant to the industry, says: “It’s still more profitable to import cannabis illegally. Unlike dealers, private companies have staff and bills to pay.”
Currently the island has just six cannabis farms, four dispensaries and a cannabis lounge, where people can smoke on the premises. At the same time, Antiguan authorities intercepted 45kg of illegally imported cannabis in just 24 hours back in September.
Meanwhile, Antigua has been innovative in its approach to domestic illegal growers. Instead of prosecutions, violators were invited to take part in a free six-week course to teach them how to enter the market legally.
“Twenty-two have already graduated, with two soon to transition to a medicinal business,” Burton tells the BBC. “The industry won’t be successful if the illicit market does as it pleases.”
The continuing liberalisation of cannabis across the Caribbean is also said to be having a positive impact on social justice for one community in particular.
In 2018, Antigua’s Prime Minister Gaston Browne issued a formal apology to the country’s Rastafarians, for decades of historic persecution, stigma and abuse over their cannabis use. Six years later, the government granted Rastafarians official sacramental authorisation to grow the plants.
And last summer, it announced plans to expunge the criminal records of people previously prosecuted for possession of small amounts of marijuana.
Gemma HandyBut for High Priest Selah, of Antigua’s Nyabinghi denomination of Rastafarians, memories of the harassment he and others once suffered still linger.
“The police were always coming and locking us up, destroying our plants, tarnishing our name and embarrassing us in public,” he recalls. Campaigners from his community played a major role in getting the plant decriminalised.
Back at Pineapple Road, two employees are carefully hand-rolling joints, each one containing a gram of pure marijuana, for sale in the company’s dispensary.
Burton hopes more local growers will get on board and keep the industry’s proceeds in Caribbean hands.
Hill agrees. “We have the ability to compete with much bigger countries thanks to our climate which reduces costs,” he says, adding: “We’re not trying to create an Amsterdam, this is about wellness.”
Business
Sri Lanka increases fuel prices around 25% as Middle East tensions disrupt global oil supplies – The Times of India
Sri Lanka on Sunday raised fuel prices by around 25 per cent, marking the second increase within a week as the ongoing Middle East conflict continues to disrupt global energy markets, news agency PTI reported.The price revision, effective from midnight, comes as tensions triggered by joint US–Israel strikes on Iran and retaliatory action by Tehran have spread across the Gulf region, leading to the closure of the Strait of Hormuz — a key global energy transit route.According to official announcements, the price of auto diesel rose 26.1 per cent from Sri Lankan rupees (LKR) 303 to LKR 382 per litre, while super diesel increased 25.5 per cent from LKR 353 to LKR 443. Petrol 92 octane climbed 25.6 per cent from LKR 317 to LKR 398, petrol 95 octane rose 24.7 per cent from LKR 365 to LKR 455, and kerosene jumped 30.8 per cent from LKR 195 to LKR 255.This is the third fuel price hike since March 1 and comes as the conflict, which has unsettled global oil markets, entered its fourth week.With the latest revision, retail fuel prices in Sri Lanka are set to return close to levels seen during the 2022 economic crisis, when the country declared its first-ever sovereign default since independence in 1948. The unprecedented financial turmoil at the time forced then president Gotabaya Rajapaksa to resign amid widespread civil unrest.The steep increase has sparked concern among transport operators. Non-state bus owners warned that up to 90 per cent of their fleet could be taken off the roads unless fares are revised.“This is the biggest rise of diesel ever. We will not be able to operate buses without an adequate fare revision. We need a minimum 15 per cent fare hike to stay afloat,” Gamunu Wijeratne, chairman of the Lanka Private Bus Owners’ Association, told reporters.The association threatened a nationwide strike if authorities fail to announce a scheduled fare revision.Responding to the developments, the National Transport Commission (NTC) said the latest diesel price increase, when applied to its fare formula, translates into a rise of more than 10 per cent in current bus fares. NTC Director General Nilan Miranda said Cabinet approval is expected on Monday to implement revised fares, according to media reports.Private operators account for about 65–75 per cent of the island nation’s public transport fleet, while the state-run share stands at around 25–35 per cent.Three-wheeler taxi operators, many of whom use petrol vehicles dominated by India’s Bajaj brand, said the price of commonly used petrol had risen to nearly LKR 400 per litre.“Who would want to ride with us at this rate?” a three-wheeler driver said, as quoted news agency PTI.Apart from state-owned Ceylon Petroleum Corporation (CPC), fuel retailing in Sri Lanka is also carried out by Lanka IOC — a subsidiary of IndianOil –as well as China’s Sinopec and Australia’s United Petroleum. Following CPC’s decision, LIOC and Sinopec also revised their retail fuel prices, media reports said.Opposition leaders criticised the government’s tax policy, claiming that authorities collect about LKR 119 per litre of petrol and LKR 93 per litre of diesel in taxes. They demanded that these levies be scrapped to provide relief to consumers.Analysts warned that the fresh fuel price hike could push inflation higher by 5–8 per cent.Earlier, government spokesman and minister Nalinda Jayatissa said that despite the price revisions, the government continues to bear a monthly subsidy burden of around Rs 20 billion by subsidising diesel by Rs 100 per litre and petrol by Rs 20 per litre.He said that without the revision, the state would have faced an additional financial burden of approximately $1.5 billion. Jayatissa urged the public to consume electricity and fuel “mindfully” and warned against hoarding, calling on citizens to report any such attempts.
Business
Govt orders faster city gas project clearances, hikes commercial LPG allocation to ease supply stress – The Times of India
The government has stepped up efforts to streamline gas distribution and ease supply pressures, directing faster processing of city gas projects while increasing allocations of commercial LPG to key sectors amid a challenging geopolitical environment.The Petroleum and Explosives Safety Organisation (PESO) has instructed its offices to dispose of City Gas Distribution (CGD) applications within 10 days, aiming to accelerate the rollout of piped natural gas (PNG), an official statement said.Commercial LPG consumers in major cities and urban areas have also been advised to shift to PNG as part of a broader strategy to reduce dependence on liquefied petroleum gas. Domestic LPG supply remains stable, with no reported dry-outs at distributorships and normal delivery patterns across the country, the statement said, adding that most deliveries are being carried out through the Delivery Authentication Code (DAC) while panic bookings have subsided, PTI reported.On the commercial LPG front, the government has progressively increased allocations. After restoring 20 per cent supply earlier, an additional 10 per cent allocation linked to PNG expansion reforms was announced on March 18. A further 20 per cent allocation was cleared on March 21, taking total commercial LPG supply to 50 per cent.The latest increase prioritises sectors such as restaurants, dhabas, hotels, industrial canteens, food processing units, dairy operations, community kitchens and subsidised food outlets run by state governments and local bodies. Provision has also been made for 5 kg cylinders for migrant workers.Around 20 states and Union Territories have implemented the revised allocation guidelines, while public sector oil marketing companies are supplying commercial LPG in the remaining regions. In the past eight days, about 15,440 tonnes of LPG have been lifted by commercial entities.Educational institutions and hospitals continue to receive priority, accounting for nearly half of the total commercial LPG allocation. Despite global uncertainties affecting supply, the government indicated that domestic availability remains under control while efforts continue to transition urban consumers towards PNG.
Always products are displayed on a shelf in a supermarket in Sarajevo, Bosnia and Herzegovina October 29, 2024.
Dado Ruvic | Reuters
Rising inflation and ever-changing tariff policies have led to higher prices across store shelves over the past few years, squeezing consumers’ budgets.
An often overlooked example: menstrual products.
The average price of menstrual products, including sanitary pads and tampons, has risen nearly 40% since 2020, from roughly $5.37 per unit to $7.43 per unit, according to February data from Chicago-based market research firm Circana.
Dollar sales from menstrual products have grown by nearly 30% over that same period, according to Circana.
But at the same time, sales of menstrual products — which broadly includes pads, tampons, liners and more — have seen a roughly 6% decrease since 2022, falling incrementally each year, according to data from NielsenIQ.
The data analytics company noted that items across the store have seen average unit price increases, with the dollar volume of consumer packaged goods at large rising 2.7% year-to-date. Those price increases are in line with climbing inflation, with the latest consumer price index in February showing a 2.4% annual rise.
The latest CPI data found that inflation in personal care products in the U.S. has jumped dramatically, up 22.1% in February from January 2020.
But because menstrual products are a necessity for a large portion of the population, those costs may be hurting consumers.
“I do think that we’re at a point where consumers in general are having to choose whether they can buy food for their family, or buy prescriptions for their family. Some things that we do typically define as a necessity, people are finding alternatives for or going without,” said Sarah Broyd, a partner with consultancy firm Clarkston Consulting.
Broyd said the gap between higher prices and declining sales shows consumers may be searching for alternatives out of necessity.
Menstrual products haven’t just been hit by inflation, either. According to government data, the U.S. collected $115 million through tariffs on menstrual products containing cotton in 2025, compared with just $42 million in 2020.
The U.S. imported the majority of its menstrual products from Canada, China and Mexico in 2024, according to the World Bank. President Donald Trump has imposed tariffs on all three of those countries at varying levels over the past year.
Those added costs come on top of the so-called “pink tax,” where some states place a sales tax on menstrual products. According to 2025 data from Statista, Tennessee, Mississippi and Indiana have the highest sales tax on menstrual products at 7%. Products that are deemed “medical devices” are often excluded from sales taxes.
‘A subscription service to be a woman’
For 30-year-old Dafna Diamant, the rising price of menstrual products has become noticeable at the cash register and a drag on her monthly expenses.
The New York resident said she’s noticed her usual pack of roughly 18 tampons rise to somewhere around $25, especially over the past year.
“It’s crazy, and it just feels like as a woman, you have to pay sometimes $50 every couple months,” Diamant told CNBC. “And for some people, it takes a toll on the income.”
Diamant said she feels particularly frustrated because it’s not a monthly expense she can go without. She often buys store-brand period products at retailers like CVS and Walgreens, yet she said she’s still shocked by the sticker price.
“It still feels like a subscription service to be a woman,” Diamant told CNBC. “You have to pay every month to be fertile.”
Even larger companies have felt the effects. Procter & Gamble, the parent company of menstrual product brand Always, said in July that it was raising prices on 25% of its personal care and household products due to a $1 billion total annual tariff impact. It manufactures its Always products across facilities in Maine, Utah and Canada, according to the company.
P&G declined to comment for this story.
Kimberly-Clark, the maker of menstrual product brand Kotex, said on an earnings call in April that the company incurred a total of $300 million in gross costs from tariffs, with more than half of that related to tariffs on China. The company did not respond to CNBC’s requests for comment.
Broyd, the partner at Clarkston Consulting, said menstrual products have been hit with a “triple whammy” of rising raw material costs, inflation across energy and supply chains, and cross-border friction from tariffs.
“When you think about plastic and pulp and some of the main components of feminine care products, they’re largely probably coming from overseas and then getting hit with that much more of tariffs,” Broyd said.
She added that these tariffs are on top of already alleged higher levies on other women’s products, the subject of Congress’ Pink Tariffs Study Act introduced last year by Democrats to determine whether the U.S. tariff system is “regressive” or has a “gender bias.”
As prices continue to shoot up, Broyd said she believes companies will continue to reevaluate their portfolios and potentially sell off their feminine care segments to focus on businesses with higher margins. In November, Edgewell Personal Care sold its feminine care business to a company in Sweden for $340 million.
“You’re seeing these more niche, more startup type brands that are popping up in stores. … That’s the biggest growth,” Broyd said. “People that have the ability to flex up and buy more organic or products that they trust, they’ll spend that price premium. But for other consumers that don’t have the discretionary income to do that, they’re going to trade down and go private label, or go without.”
The rise of reusables
Diamant said she and her friends are now trying period underwear instead of single-use products to streamline their expenses.
A growing number of people have been trying reusable period products, primarily because they’re environmentally friendly and cheaper.
Major manufacturers have often relied on brand loyalty for their products, which could take a hit if consumers turn to alternatives.
“If you’re in fem care, you’re going to be using Kotex for 40 years. If you’re in Depend, you’re going to be using Depend for 40 years, right?” Kimberly-Clark CEO Michael Hsu said on a November earnings call. “There is long-duration frequency. There’s a lot of expenditure for consumers, and so because of that, they want to have an ongoing relation with us.”
Saalt, a reusable period products company offering cups, discs and underwear, said it estimates that 16% to 20% of U.S. consumers have tried or used reusable menstrual products, consisting of mostly younger consumers.
“Affordability is huge,” CEO Cherie Hoeger told CNBC. “When you look at our product, a cup or disc can last 10 years, and our product is only in the $30 price range. … They’re able to save up to $1,800 on the lifespan of that cup or disc, and that’s on the low end.”
Saalt, which launched in 2018, hit revenues of eight figures in its third year of business, Hoeger said. The company declined to disclose details of its financials, but she said demand has grown year-over-year since it launched.
Among Generation Z, Hoeger said the top reason for switching to reusables is pricing.
“They usually have some affinity toward sustainability and climate change, but it’s never their number one,” Hoeger said.
The rise of reusables may be contributing to the declining sales of single-use period products over the past few years. It also coincides with recent studies indicating that tampons could contain lead or other harmful ingredients. The Food and Drug Administration investigated the presence of metals and determined there was no risk.
Riding that momentum, other companies like Knix, MeLuna, Flex and more have entered the reusables space and garnered growing market share as consumers search for alternatives.
“Affordability is the crux; it’s the root problem,” Hoeger said. “Without affordability for these period products, you have real economic consequences for women to happen.”
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