Witco not getting into marijuana

THE West Indian Tobacco Company (Witco) is not getting involved in the marijuana business. Chairman Anthony E Phillip made this point to shareholders at Witco's annual general meeting at the Hyatt Regency Hotel in Port of Spain.

When a shareholder asked him if moves to decriminalise marijuana in TT would affect the company, Phillip replied, "We have no plans for getting involved in marijuana." But he said Witco is "looking to see how this pans out."

Speaking after the meeting with reporters, managing director Jean Pierre du Coudray said, "This is something that we've discussed at a board level," adding that Witco is remaining neutral on the decriminalisation of marijuana at this time.

He supported Phillip's statement that there is no comparison between tobacco and marijuana. "The only thing similar between tobacco and marijuana is how it's consumed."

He said getting into the marijuana business was an entirely different matter.

"It's a totally different product. We don't have the footprint. we don't have the infrastructure to deal with it."

He also said there is no research which shows an increase in the number of marijuana smokers translates into an increase in tobacco smokers. Referring to Jamaica, where some decriminalisation has happened, du Coudray said there has not been an increase in Witco's sales in that market.

But he did not rule out Witco exploring business opportunities in marijuana, based on how the decriminalisation debate goes.

"If opportunities present themselves later on, we'll make that decision at that point in time." He reiterated that Witco remains "very neutral" on this issue.

On Monday, Attorney General Faris Al-Rawi said Government hopes to be in Parliament by June "to treat with the law."

Al-Rawi said he supported an amendment to the law to "treat with decriminalisation of certain quantities (of marijuana)," disclosing, "We have drafted the regulations to deal with the medicinal side of marijuana, which is the real crux to the issue."

Al-Rawi also said he does not support a moratorium on arrests for small amounts of ganja at this time.