A CHINESE group has taken over the medical cannabis business, Tasmanian Botanics, after being a part-owner. Yongji Health has acquired the remaining 53 per cent of Pijen, the holding company that owns about 96.5 per cent of Tasmanian Botanics. The transaction is valued at around $31 million, with the group having previously owned 45.6 per cent. The group bought the Pijen securities from Tasmanian Botanics founders Marlene Anne Fehlberg, Rodney David Fehlberg, and Tony Alan Fehlberg. According to the company’s filings, Rodney and Tony Fehlberg will each receive about $13.77 million and Marlene Fehlberg about $3.47 million.Tasmanian Botanics operates at Pontville, just outside of Hobart, and has been running since 2017.

UKRAINE is examining Baltic ports as an alternative route for grain as attacks continue to disrupt its Black Sea trade. The economics are ugly: moving grain through Danube routes can add about US$50 a tonne, while taking it north to Baltic ports could add around US$100/t. Ukraine believes Baltic ports could potentially handle 20 million tonnes, but says making the route viable may require billions of dollars in support. For Australian grain growers, every extra dollar imposed on Black Sea grain alters the export-price equation in competing markets.