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Portugal is rapidly emerging as a leading center for medical marijuana in Europe. Its mild, temperate, subtropical environment, frequently likened to that of California, makes it an excellent location for cultivating cannabis.
“No other European country offers better environmental conditions,” said Martins of FAI Therapeutics, a Portuguese pharmaceutical firm. Located near the hills of Serpa, surrounded by cork oaks and olive trees, FAI Therapeutics’ 13.3-acre farm produces approximately 30 tons of marijuana flowers annually. The operation began in 2022 following a surge of interest from international marijuana producers drawn to Portugal’s ideal climate and supportive legislation.
Currently, over 60 companies have received authorization to cultivate, distribute, or process medical marijuana products in Portugal, with an additional 170 companies waiting for approval. Last year, the country exported about 12 tons of marijuana-based medical products, primarily to Germany, Europe’s biggest market, and to countries such as Australia, Poland, and Spain.
The industry has ambitious goals as demand for medical marijuana grows globally. According to Jose Tempero, medical director of Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY), a global corporation based in Canada with a marijuana farm close to Cantanhede, Portugal is leading among European producers of medical cannabis. Tilray’s facility has packaging and processing facilities as well as labs, with its marijuana oils selling even in Latin America.
The expanding market for medical marijuana is driven by its applications in managing chronic pain, cancer treatment side effects, and certain forms of epilepsy, among other medical conditions. Over 50 countries have approved marijuana-based medications, with the number expected to increase in the coming years. Market analysts predict the global medical marijuana industry will grow from $16.6 billion in 2023 to more than $65 billion by 2030.
Beyond its favorable climate, Portugal offers a robust regulatory framework established under its 2019 cannabis legislation, which enforces strict quality standards. These regulations have bolstered confidence among international buyers, ensuring the safety and reliability of products exported from Portugal.
Despite Portugal’s leadership in production, many Portuguese patients face challenges in accessing cannabis-based medications. Most doctors are hesitant to prescribe these treatments, and their costs are not fully covered by the nation’s healthcare system. Lara Silva, whose young daughter suffers from severe epilepsy, highlighted the difficulty of accessing CBD products locally. She initially had to source them from Spain due to insufficient availability in Portugal.
Tempero acknowledged the stigma surrounding medical cannabis but expressed optimism about its growing acceptance, particularly beyond recreational use.
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