Police Scotland said the Class B drug was seized from an address in Hawthorn Street on 27 February following an "intelligence-led operation."
A 63-year-old man was arrested and a report will be submitted to the procurator fiscal.
Insp Christopher Stewart said information from the local community played a "crucial role" in the raid.
He said: "This latest recovery again demonstrates our ongoing commitment to tackling drug crime in Forth Valley."
A man has been charged after police recovered £10,000 worth of cannabis from a property in Grangemouth.