Among the many countries that have regulated the production of medical cannabis, surely Portugal is one of the most promising in terms of opporutinities it has to offer.
The Canadian producer Tilray, for instance, already eyed Portugal with the opening of a facility in Cantanhede, with the planting of roughly 100,000 hemp plants in greenhouses and outdoors. The elements that make Portugal one of the countries that will probably lead the cannabis industry in the near future are many. First of all, the cheap cost of labor, the favorable legislation, and the weather which very positively lends itself to cannabis cultivation. “The support from the public is real, and on top of that, the low operational cost plus a particularly suitable water supply are just a few of the things that make this country special," David Ferreira with FunCrops said.
So far, cannabis cultivation in Portugal has already generated 160M euros. The Portuguese company Sabores Purpura is investing 100M and RPK Biopharma 40M. "Portugal has been highlighted in the cannabis industry for the country’s law and regulations, but also because of Portugal’s special conditions to grow cannabis plants at a lower production cost, with high quality standards, as medical use requires, with a very low CO2 footprint", Sofia Ferreira with Sabores Púrpura explained.