The export of medical cannabis has been approved by an interministerial committee of the Finance and Health Ministries, it was announced on Sunday. The state will earn from this an estimated NIS 1 billion to NIS 4 billion a year. Any entity that meets the requirements may obtain a license to grow, manufacture, store or distribute cannabis.
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The overall global price for cannabis in the world is about $10 per gram. The price of medical cannabis is growing significantly. In 2000, global production stood at 1.3 tons and in 2014 production rose to 57.3 tons.
Finance Minister Moshe Kahlon said: “The export of medical cannabis is an industry with significant economic potential for the State of Israel and will strengthen Israeli agriculture in general and agriculture in the Arava region in particular. It will serve as an opportunity for the country to exploit its relative advantage in developing medical products from medical cannabis.”
