Morocco’s Cannabis Legalization Set to Boost Economy and Medical Industry

The summary of these studies carried out by the Ministry of the Interior and presented on Tuesday before the House of Representatives, notes that the medical use for medical, cosmetic and industrial purposes of cannabis production could generate an annual net income of around 110,000 dirhams per hectare. This represents an improvement of around 40% of current income.

At the export level, the European destination will be prioritized due to the ease of penetration and taking into account the factors related to the forecasts of consumption growth and the volume of imports, the report notes. To this end, exports will generate an estimated $4.2 billion by 2028 if Morocco takes 10% of the medical cannabis market and over $6.3 billion and $630 million in agricultural income with a 15% share of the European market.

At the health and environmental level, the medical use of the plant would make it possible to overcome the many risks related to smuggling and drug use as well as its direct and indirect harmful consequences on the health of the actors as well as on the environment.

The document also pointed out that the Spanish, Dutch, English and German legislations are favorable to the import of cannabis which could generate an annual windfall of $25 billion by 2028. This option does not undermine the French and Italian markets which are less favorable but capable of strengthening the potential Moroccan market by $17 billion per year.

The studies also found that with this organization, the kingdom will become an exporting country of medical, pharmaceutical and industrial products.