Israeli Firms Eye Moroccan Cannabis Market as Legalization Looms

About 150 Israeli companies specializing in the pharmaceutical, cosmetic and other industries are interested in Moroccan cannabis and are just waiting for the adoption of the draft law on its legal use to invest in this sector in Morocco, reports the daily Assabah.

The law on the legal use of cannabis, once adopted and promulgated, will have significant economic repercussions on the regions known for the cultivation of this plant as well as on the thousands of families who will see their living conditions improve. According to a study carried out by the Ministry of the Interior, the annual net income from cannabis for medical use should see an improvement of around 40%, to reach 110,000 dirhams per hectare. According to the newspaper, cannabis cultivation will be carried out in compliance with the standards of sustainable agriculture. By 2028, the medical cannabis market could see an annual growth rate of 30% globally and 60% in Europe, the study says.

The PAM parliamentarian, Larbi El Mharchi, indicated during a meeting held on Monday at the second Chamber, that his party is determined to bring about its bill relating to the general amnesty in favor of nearly 55,000 people convicted or wanted by justice for illegal cultivation of cannabis.

The draft law on the legal use of cannabis is currently under consideration in Parliament. The PJD, fiercely opposed to this text, could use all means to thwart its study and adoption.