How I accidentally became a drug smuggler
According to the Ministry of Health website, I've unwittingly imported a Class B drug into New Zealand. Yikes.
Yet I think it might be the next big thing in terms of world health trends. It's currently exploding in popularity across the retail and food sectors overseas and has the potential for profits, employment and economic growth.
The "drug" is cannabidiol (known as CBD) and it comes from cannabis.
The bottle I've got is made in Poland, of all places, and it's sold under the catchy brand name of CannabiGold.
CBD oil is the new plant-based option for all manner of ailments. It's not a medicine so it 'potentially' helps with sleeping issues, exercise induced inflammation, anxiety and pain relief. The list goes on.
The oil contains cannabinoids (the calming element of cannabis) but no THC (the psychoactive compound). Medicinal cannabis contains both the calming and psychoactive agents. Hemp seeds contain neither.
It was for sale on the high street in Britain and cost £29 (NZ$58). A bit of bubble wrap and a note to customs explaining the contents of my parcel saw the Polish CBD jetting home. It could have hitched a free lift in my suitcase, but we were passing through Singapore. That doesn't pass the "what-could-possibly-go-wrong" test.
In Britain, huge posters in the windows of health shops advertise CBD.
Weekend newspapers are constantly interviewing consumers and various studies have covered everything from acne to multiple sclerosis to post-traumatic stress disorder. In the food sector it's being added to craft beer, smoothies and classy marshmallows. Coca-Cola is looking at bringing out a drink containing cannabinoids.
The Ministry of Health says the intent is to make access to CBD products easier so it now allows New Zealand pharmacies and wholesalers to import it. It seems I wasn't supposed to as an individual. Yet it's not easy to find here. While Holland & Barrett in the UK have rocketing sales, Health 2000 is either asleep or hamstrung in some way.
Investment Themes
Health, wellbeing and plant based alternatives are major investment themes worldwide. In New Zealand we have ideal growing conditions for cannabis in regions that are in need of economic growth (Northland, the West Coast and Golden Bay present perfect examples).
While the ball is rolling with medicinal cannabis in Ruatoria, the opportunities for non-psychoactive health varieties are enormous. Brand New Zealand attracts premium pricing with our clean image and quality control.
Combine New Zealand water with infusions of calming CBD and the worlds wellness industry could hyperventilate money at us.
Health, Money and Morals
Cannabis itself is going to present a dilemma for many New Zealanders in the referendum on recreational use.
Dr Eric Crampton of the think-tank The New Zealand Initiative points out, "supporting a regulated market for cannabis hardly requires you to think cannabis is a good thing". He goes on to say that regulated markets have the protection of laws such as the Fair Trading and Consumer Guarantees Act.
Personally I don't fancy our Disputes Tribunal besieged by druggies claiming a "substantial failure of quality" of their joint, but I do like Crampton's message that "criminal profits transform into government excise earnings".
Economically there are some powerful arguments. The Canadian government is now raking in $1 for every gram of cannabis sold. Floating on the slopes of Whistler isn't a tourism campaign we'll be seeing in a House of Travel advert, but the House of Commons certainly saw the attraction of excise duty.
Not many of us will put economics ahead of our own moral feelings on this topic. We all fear the unanswered questions of an overly simplified referendum. I find myself supporting the idea of drug use becoming a medical issue and integrated into the health system. I like the economics of excise tax and the potential profits in growing cannabis for global health and medical products. But what will the law look like? Tell me the rules.
Where is the roadside drug testing of motorists? How will an 18-year-old be able to buy a joint? At the dairy with a lotto ticket? I'm going to struggle to prioritise the health of drug addicts or the economics of industry, if the referendum leaves my worries unanswered.
Crampton and his think tank propose that New Zealanders vote on a finalised piece of legislation. Not everyone will read it, but you can be sure the swing vote would.
Janine Starks is a financial commentator with expertise in banking, personal finance and funds management. Opinions in this column represent her personal views. They are general in nature and are not a recommendation, opinion or guidance to any individuals in relation to acquiring or disposing of a financial product. Readers should not rely on these opinions and should always seek specific independent financial advice appropriate to their own individual circumstances.