Israeli Cannabis Exports Expected To Reach $1 Billion Annually

December 18, 2017

For a tiny country, a little bigger than the State of New Jersey, Israel is a world leader when it comes to medical cannabis. That is true for research, development and now mass-export is on the cards, and it’s dubbed to top $1 billion annually.

The new mass-export idea is thanks in part to the Israeli Ministry of Agriculture, who recently classified the growing of medical cannabis to be the same as in the ‘farming sector.’ The means that Israeli medical cannabis farmers will receive government aid, grants, training and even water quotas.

Then, there’s the Ministries of Health and Finance who also think that exporting cannabis from the Israel is a good idea. And why wouldn’t they? As Israeli farmers could export $1 billion worth of the plant per year, combined. And that’s not even to mention the Israel domestic medical cannabis market which is growing.

Israel has been big in medical cannabis since the 1960s, when various Israeli Professors (the most noteworthy being Prof. Raphael Mechoulam) and scientists carried out ground-breaking research, finding that cannabis could help in treating cancer, epilepsy, and even repairing brain tissue. As cannabis research was allowed by the government of Israel (as opposed to everywhere else in the world where it’s basically illegal) the Jewish State got a head start decades ago, and that fact is now about to reap some amazing benefits.

The new expected revenue from exports hasn’t come cheaply though, as various government officials in Israel announced that they would invest at least $2 million across 13 new research projects in Israel, and other funding is also being routed in that direction.

Clifton Flack, CEO and co-founder of Israeli cannabinoid company CIITECH, said recently, “There is significant demand for Israeli cannabis. We’ve been talking about this country as the epicenter of research for a number of years.”

That, together with Israel’s unique ability to make things grow in the middle of the dessert, enabling new ecosystems. Coupled with Israel’s amazing hi tech capabilities means that soon enough, according to many pundits, Israel will be at the forefront of cannabis. In terms of R&D, clinical trials and mass-export.

 

[Image credit: Pixabay]

 

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