Morocco's Cannabis Industry Experiences Unprecedented Growth

Friday 02 August 2024 - 10:40

In an extraordinary shift, Morocco's cannabis industry has seen explosive growth following the government's decision to lift a long-standing ban. The National Agency for the Regulation of Cannabis-Related Activities (ANRAC) has reported a remarkable increase in the number of licenses issued for cannabis-related activities since the beginning of 2024.

The ANRAC's latest figures reveal that nearly 3,000 licenses have been approved so far this year, a substantial rise from the 609 licenses issued throughout 2023. The bulk of these approvals, totaling 2,800 licenses, have been granted to 2,600 farmers in the northern provinces of Taounate, Chefchaouen, and Al Hoceïma for the cultivation and production of cannabis. This marks a significant leap from the 430 licenses issued in these regions last year.

Additionally, ANRAC has sanctioned 200 licenses for various cannabis-related activities, involving 98 operators. This diverse group comprises a pharmaceutical establishment, 23 cooperatives, 24 individuals, and 50 companies. These licenses encompass a broad spectrum of activities: 59 for industrial purposes, one for medical transformation, 49 for commercialization, 39 for export, 24 for seed importation, 18 for transportation, and one for nursery establishment.

In the realm of health and wellness, the Ministry of Health has granted 19 registration certificates, including nine for dietary supplements and ten for cosmetic and personal hygiene products. Several more products are under review, expected to receive certification upon meeting the required standards.

During a workshop on the medicinal and pharmaceutical benefits of cannabis, held on May 17 by the Moroccan Federation of Pharmaceutical Industry and Innovation (FMIIP), President Mohamed El Bouhmadi highlighted the sector's economic potential. He projected that the industry could generate annual revenues between 4.2 billion and 6.3 billion dirhams by 2028, assuming Morocco captures a 10-15% share of the European market.

The government aims to cultivate 2,400 hectares of land in the northern provinces of Taounate, Chefchaouen, and Al Hoceïma this year. Currently, 1,700 hectares have been planted, with 1,500 hectares dedicated to the Beldia cannabis strain, which is now being harvested.

As Morocco's cannabis industry continues to expand, it is poised to become a significant player in the global market, driving economic growth and creating new opportunities within the country.