ECS 6.25% 1.7¢ ecs botanics holdings ltd

Imports are subject to the same quality conditions (TGO93) but...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 2,017 Posts.
    lightbulb Created with Sketch. 635
    Imports are subject to the same quality conditions (TGO93) but there is no enforcement. Domestic producers are audited by the TGA annually and everything gets reviewed, importers just have to provide a certificate saying it complies with GMP. Without testing of imported products there is no guarantee that it actually meets the standard. An independent test lab recently did some testing of imported products and found the majority didn't comply, hence why the local industry is up in arms because of the damage it can do to the industry as a whole if people start experiencing bad reactions to medicinal cannabis due to unacceptable levels of pesticides etc.

    Desperate people do desperate things, and some of the most desperate are those whose business is failing. You just need to look at the USA to see all of the dodgy practices companies over there have run including bribing test labs to report no traces of harmful chemicals when it actually does contain them.

    There is a standoff at the moment between the TGA and local producers as the TGA says its job is to set the standard but not to test product to ensure it meets it. Local industry says what's the point in having a standard if you're not going to enforce it.

    In my view, they should charge a small duty on all imports and use that money to fund a test lab that randomly tests imported product at customs. Will wait to see what happens in the space, I've noticed a lot of local companies are now referring to imported product as non-GMP, probably as a way to bring awareness to the issue and spur the TGA into doing something about it.

    The above is what I believe the current state is, I can't guarantee it's entirely accurate as it's just what I've read from the TGA, media publications and my own observations.
 
watchlist Created with Sketch. Add ECS (ASX) to my watchlist
(20min delay)
Last
1.7¢
Change
0.001(6.25%)
Mkt cap ! $21.90M
Open High Low Value Volume
1.6¢ 1.7¢ 1.6¢ $17.55K 1.051M

Buyers (Bids)

No. Vol. Price($)
3 1193399 1.6¢
 

Sellers (Offers)

Price($) Vol. No.
1.7¢ 1978464 4
View Market Depth
Last trade - 16.10pm 12/11/2024 (20 minute delay) ?
ECS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.