Israeli Farmers Look to Marijuana as Cash Crop

Israel is busy sorting out regulation for offshore natural gas reserves that are expected to be a boon for the local economy, while some argue that medical cannabis offers the Jewish state an even bigger financial opportunity.

Earlier this month, the Israel Loss Adjusters Association (ILAA) held a conference to discuss how Israel’s farmers could benefit from the growing global market for medical cannabis.

“The US cannabis market stands at $35 billion a year,” noted ILAA Chairman Doron Havkin. “Are we able to give up revenues from this market?”

Havkin argued that the government could help the stumbling agricultural sector in the arid Arava Valley in southern Israel by declaring it a closed zone for growing export-oriented medical cannabis. The nearly 6,000 acres of land, he said, were waiting for such a development.

Dr. Tamir Gadot, CEO of pro-medical cannabis agricultural association Breath of Life, explained that if Israel grew...

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