Israel is banking on cannabis as its next big industry
Potential investors from as far away as China are visiting Israel to explore opportunities
Wednesday, May 29, 2019
Israel sees legal production of medicine based on cannabis as its next big industry, hoping to tap into a global market that research organizations estimate at $17 billion a year and growing. There are several factors that make Israel especially well-positioned to capitalize on the drug’s medical promise. Blessed with mild weather, lots of sunshine and sophisticated research-and-development sectors, Israel also has a tradition of educated farmers through the kibbutz system who can easily implement the “precision agriculture” necessary for high production standards. Israelis have dedicated thousands of acres and millions of dollars to cultivating the plant under controlled conditions. (See also: Cannabis is a bubble, says Technion researcher)
