The annual net income from cannabis for medical use could reach 110,000 dirhams per hectare, according to feasibility studies relating to the legalization of the cultivation of this plant.
These studies, prepared by the Interior Ministry and presented on Tuesday to the Committee for the Interior, Local Authorities and City Policy at the House of Representatives, show that this amount represents an improvement of about 40% compared to current receipts, all within the framework of practices respecting the standards of sustainable agriculture.
Regarding export markets, the document emphasizes the prospects for Europe by 2028, according to two hypotheses. The first targets 10% of the medical cannabis market ($ 4.2 billion out of a total of 42), while the second hypothesis concerns 15% of the market, that is 6.3 billion dollars and agricultural revenues of 630 million dollars.
In addition, these studies show that the European market will be targeted in the first place, in particular because of the ease of penetration and taking into account factors linked to consumption forecasts and the volume of imports.
At the legislative level, the priority markets for Moroccan medical cannabis are Spain, the Netherlands, the United Kingdom and Germany, with forecasts of 25 billion dollars/year by 2028. The same studies show that taking into account the potential of the French and Italian markets will increase the volume of the potential market by 17 billion dollars, to reach 42 billion.
The medical use of this plant would reduce a number of risks related to smuggling and drug consumption, as well as those related to health and the environment. Economically, the development of this production chain will allow the Kingdom to move from the status of an importing country to that of an exporter of medical, pharmaceutical and industrial products.