The Canadian Canopy Growth, one of the largest growers of medicinal cannabis in the world, is going to invest heavily in Europe. Over the next two years, the company will invest more than 100 million euros for new production facilities in Italy, Spain or Greece. In those countries the sun often seems to be favourable for growing weed.
In the new nurseries Canopy wants to grow tons of cannabis every quarter. A new facility in Denmark is almost complete. It has to produce 200 kilos of weed every week by the end of next year. Last month recreational use of marijuana in Canada was legalized and Canadian cannabis companies are now looking for expansion opportunities beyond their own borders.
Experts expect the European market for medicinal weed to become billions in the coming years. Last year, the use of cannabis for medical use in Germany became completely legal. In the Netherlands, medical cannabis is prescribed by general practitioners, for example for pain relief.