For the first time, Morocco has legally exported cannabis. A shipment of resin, with less than 1% THC (the psychoactive molecule), was sold for between 1,400 and 1,800 euros per kilogram, destined for Switzerland in the second quarter of the year, reports French newspaper Le Monde. Since the 2021 law allowing cannabis for medical, pharmaceutical, and industrial purposes, the sector has experienced significant growth, with around 200 operators now active. This positions Morocco as a rising player in a global market projected to exceed $50 billion (€46.2 billion) by 2028, according to Insight Partners. The Moroccan Federation of Pharmaceutical Industry and Pharmaceutical Innovation (FMIIP) anticipates annual revenues of 4.2 to 6.3 billion dirhams (approximately 400 to 600 million euros) within four years. This assumes Morocco can capture a 10% to 15% share of the European market, where medical cannabis is legalized in 21 of the 27 EU member states. The first legal cannabis harvest in 2023 totaled just 296 tons. Over two million seeds were imported from Europe, but extreme heat waves in June and July hindered germination and plant growth.
