Israel approves exports of cannabis for medical use

The Israeli cabinet yesterday approved a law that allows the export of cannabis for medical use, Israeli media reported.

The Knesset had approved the law in December, according to the Israeli news reports, and exports may begin in nine months.

“I am glad this is finally happening,” Ynet News reported Israel Justice Minister Ayelet Shaked saying. “It opens a very big market in Israel.”

“The technology is here in Israel and until now we simply had to give the technology to other countries. Therefore, I am glad we can reap the profits here in Israel,” she said.

READ: More than half of Israel soldiers smoke cannabis 

A number of Israeli lawmakers tried to block the law, Ynet added, fearing that cultivating more cannabis could increase illegal drug trade.

Yona Levy, chairman of Tefen, a maker of medical-grade cannabis, said: “The Israeli market has waited a long time to receive government authorisation for export and Tefen is well positioned for any related developments.”

The Israeli government estimates exports could raise tax revenue by 1 billion shekels ($273 million). At the same time, Ynet News said, the bill imposes tough regulations on exporters and threatens jail terms and hefty fines for violations.

More than half of Israel soldiers smoke cannabis – Is the peace possible when you are on drugs… – Cartoon [Sabaaneh/MiddleEastMonitor]