How did ASX cannabis shares perform in 1H FY21?

The first half of FY21 (1H FY21) saw positive developments for ASX cannabis shares surrounding the regulation of medicinal cannabis products both locally and internationally. International markets were buoyed by the down-scheduling of cannabis by the United Nations Commission.

This is expected to result in stronger demand and open up new opportunities for ASX cannabis shares, particularly in the CBD space. The United States cannabis market also received a boost from the Biden election, with Democrats seen as far more proactive in legalising cannabis.

In Australia, the TGA down-scheduled low-dose CBD from being a prescription-only medicine to being a pharmacist-only medicine. This means Australian consumers will be able to buy CBD…