November 21, 2018 / 3:40 PM / 19 days ago

Pernod Ricard eyes 12-18 months to assess cannabis legislation impact

PARIS, Nov 21 (Reuters) - The head of Pernod Ricard said on Thursday it will take 12-18 months before the French spirits group can assess whether the legalisation of cannabis will impact the consumption of premium spirits.

“To date there is no evidence that the legalisation of cannabis will have an impact on the consumption of premium spirits. We continue to monitor it,” Alexandre Ricard told the annual shareholders meeting. “We must give ourselves 12-18 months to be in a position to assess it.”

Eight U.S. states, including California and Nevada, have legalised marijuana for recreational use. Some studies show consumers would buy the drug instead of alcohol if it was freely available.

Canada became the first industrialized nation to legalise recreational cannabis last month.

Reporting by Dominique Vidalon

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