Portugal Plans of Becoming the European Medical Cannabis Center

Portugal is increasingly appearing on the map of the global medical cannabis industry as a key player. Thanks to its unique climate, favorable legal regulations and growing demand for cannabis-based products, the country is becoming a leader in the production and export of medical cannabis in Europe.

Will Portugal become the new “El Dorado” in this dynamically developing industry? Let’s take a closer look at this phenomenon.

Climate and Geography: The Secret to Success

Portugal offers ideal conditions for growing cannabis. Its warm, subtropical climate, often compared to California, allows crops to thrive in a natural and sustainable way. Plantations such as Tilray and FAI Therapeutic take advantage of these unique conditions to produce the highest quality cannabis.

An example is the plantation in Serpa, surrounded by olives and cork oaks. This 5.4-hectare farm produces as much as 30 tons of cannabis flowers per year. Thanks to such initiatives, Portugal is becoming a key player in the European medical cannabis market.

Legislative Benefits: Why Companies Choose Portugal?

Portugal’s 2019 law legalizing medical cannabis has attracted investors from all over the world. Clear regulations and clearly defined quality standards mean that the country offers exceptional legal security. More than 60 companies have already obtained a license to produce and distribute, and 170 more are waiting for approval.

Companies like Tilray and Avextra appreciate both the climate and Portuguese regulations. “Portugal has excellent conditions for production, both in terms of climate and law,” says Bernard Babel, CEO of German pharmaceutical company Avextra.

The economics of medical cannabis in Portugal

Portugal exports its products to major markets such as Germany, Poland, Spain and Australia. In 2023, the country exported 12 tons of cannabis-based products, and forecasts indicate dynamic growth in this sector. In the first half of 2023 alone, Poland imported 1,589 kg of medical cannabis from Portugal .

According to a report by Grand View Research, the global medical cannabis market is expected to grow from $16.6 billion in 2023 to over $65 billion in 2030. As a key producer, Portugal is poised to benefit significantly from this growth while supporting its local economy.

Challenges and constraints of the internal market

Despite its international successes, Portugal’s domestic market faces serious challenges. Patient access to cannabis-based medicines remains limited. Products are expensive, and the lack of reimbursement by the healthcare system discourages many who need them, leading to Portugal selling only 17 kg of medical cannabis domestically in 2023 .

“Doctors in Portugal are often too conservative to prescribe medical cannabis,” notes Lara Silva, whose daughter suffers from severe epilepsy. Although the products are available in pharmacies, many people still order them from abroad, mainly from Spain.

Changing perceptions of medical cannabis

The stigma surrounding cannabis in Portugal is slowly giving way to growing acceptance. The increase in the number of patients using cannabis as a therapeutic agent and the education of doctors may contribute to a greater dissemination of these products.

“More and more people are seeing the benefits of cannabis, not only recreationally but also medically,” says Jose Tempero, Tilray’s chief medical officer.

Portugal’s future as a medical cannabis center

Interest in Portugal as a center for medical cannabis is constantly growing. New investments, increased exports and development of cultivation technologies are just some of the plans for the future. Portugal has the potential to become a model for other European countries.

Portugal, with its ideal climate and favorable regulations, has everything it needs to become a leader in European medical cannabis production. However, to fully realize its potential, the country must overcome challenges in its domestic market.

Will Portugal become the “El Dorado” of medical cannabis? The future will tell, but one thing is for sure – the country has huge potential to take a leading place in the global market.

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(Featured image by Lisa Fotios via Pexels)

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First published in FaktyKonopne. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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