Germany to legalize purchase of up to 30 grams of cannabis

Germany will permit adults to purchase and possess up to 30 grams of cannabis for recreational use as part of its plan to legalize weed, according to a government document seen by Bloomberg.

The cabinet approved a proposal by the health ministry on Wednesday that will allow state-licensed and controlled commercial cultivation and distribution of cannabis.

Europe’s biggest economy aims on curbing the black market and organized drug crime with its decision. There will be a limitation of permitted purchase and possession of as much 30 grams for personal consumption, which is higher than previous proposals.

The ruling coalition plans to evaluate a limit on the amount of THC -- the chemical in weed that makes you high -- for adults 21 years old and younger.

The government’s move is likely to provide a boost for Germany’s nascent cannabis industry. Firms including Synbiotic SE and Cantourage have both laid out ambitious growth plans.

It could also be a boost to the government, which plans a special cannabis tax. The sale will be restricted to specialized stores.