Morocco has officially entered the global medical cannabis trade, sending its first legal cannabis shipment to Switzerland, one of the globe’s most lucrative cannabis markets.
This consignment, valued at approximately 1,400-1,800 euros per kilogram, comprised cannabis resin with a THC content below one percent, as reported by Morocco World News. Following the establishment of a legal framework in 2021, the country has paved the way for a regulated cannabis industry.
The National Agency for the Regulation of Cannabis Activities (ANRAC), oversees this burgeoning sector, unlocking economic opportunities for thousands of farmers who previously engaged in illicit cultivation. Legalization not only augments government revenue but also empowers local farmers by integrating them into a formal market.
Morocco, with its rich history of cannabis cultivation, benefits from a climate and geography conducive to producing high-quality cannabis. This positions Morocco as a formidable contender in the global market. Within three years post-legalization, ANRAC issued 609 cultivation permits, leading to an impressive first harvest of 294 tonnes in 2023, surpassing expectations.
Industry stakeholders now target the lucrative European Union (EU) market. Predictions indicate Morocco could capture up to 15% of the EU market by 2028, translating to annual revenues between MAD 4.2 to 6.3 billion (approximately $420 million to $630 million).
The EU cannabis market, valued at $6.20 billion in 2024, is projected to grow to $7.25 billion by 2029, with a compound annual growth rate of 3.18%. With twenty-one out of twenty-seven EU member states having legalized medical cannabis, the number is expected to rise, presenting substantial export opportunities for Moroccan farmers and strengthening the cannabis sector.
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