Countries around the world are rethinking their policies towards marijuana and allowing their citizens to use the drug. But only a few have decided to actually allow their companies to import and export the drug. But we have one more to add to that list.
Israel recently became the third country in the world to allow companies to export cannabis. Israel joins only Canada and The Netherlands as countries who have passed laws allowing legal exports of marijuana. Israel has taken several steps to establish themselves as a global leader in cannabis, and is one of the few countries in the world where the government seems genuinely supportive of the industry.
Now while Israel may allow marijuana exports, the question is where will they even export it? Obviously the Canada and The Netherlands would be allowed, but they have their own marijuana growers. Certain other countries like Uruguay and Denmark also allow some imports as well. But it's hard to imagine there's a big enough international market for Israel to raise the $273 million it's projecting it will get through taxes on marijuana exports.
The big destination for marijuana exports would obviously be the United States. And while some states allow recreational marijuana in the U.S., since it's still illegal at the federal level, other countries cannot export cannabis there.
But then again, Canada is currently experiencing a massive legal marijuana shortage, so perhaps Israel will have a bigger market than people realize.