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Farmers in Malta are being offered €100,000 per Tumolo of land by property brokers who wish to use the land to grow cannabis.
This could be a great windfall for the struggling farmers, however, some are wary about parting with land that has been passed down through generations. On top of this over the years farmers may have invested as much as €1 million to install greenhouses and cultivate the land.
The Maltese government has been instrumental in promoting the new industry of medicinal cannabis which could result in a huge boon for the country’s economy. However, the bill that will dictate the legality of medical cannabis has yet to be passed.
Critics of the move to buy up land have expressed concerns that focusing on growing cannabis could lead to a reduction in the island’s food security, as well as dealing a blow to the traditional rural heritage.
The agricultural community of Malta has been in dire straights thanks to the lack of controls on food imports from the EU. There are worries that the property brokers are taking advantage of this desperation in order to buy up their land.
Private companies have no doubt noted the huge profitability of cannabis, as seen in the USA, where the cannabis industry is expected to out strip soft drinks in profits by 2030.