AGRICULTURE NEWS - The cannabis market in Africa is estimated to be worth around US$37,3 billion (about R545 billion), which is 11% of the total global market for the product.
According to the latest report by US-based New Frontier Data, Africa’s annual cannabis-use rate has been nearly twice the global average-use rate of 6% since Lesotho became the first African country to legalise medical cannabis in 2017.
The data and analytics company released the report at the InterCannAlliance Africa Symposium, which focused on hemp and cannabis production, held in Victoria Falls, Zimbabwe last month.
The report said hemp production had the potential to reinvigorate agricultural industries on the continent because of the high profit margins that could be realised by the crop, along with ease of production.
Read the full article here on the Caxton publication, Farmer's Weekly.
