11/07/2024
Safaa Kasraoui
Rabat- Morocco is aspiring to continue growing its legalized cannabis industry, targeting both local and European markets.
French news outlet Le Monde highlighted in a report this week Morocco’s potential to achieve a European market share of 10% to 15%.
Citing remarks by the Moroccan Federation of the Pharmaceutical Industry, Le Monde recalled that the country hopes to reach annual revenues of MAD 4.2 to 6.3 billion within four years.
Under this goal, Morocco seeks to rely on the “boost from the wave of legalization in the European Union (EU), where medical cannabis is authorized in 21 of the 27 member countries,” Le Monde reported on Tuesday.
The report highlighted the race of labs involved in the industry, including Sothema which made a turnover of €230 million last year.
