Israel’s Cannabis Industry Is Suffering from an Unprecedented Crisis

Over the past year, several companies in Israel have closed, products have been discontinued, and the number of registered medical cannabis users has dropped significantly.

Israel is one of the countries that has developed the cannabis industry the most worldwide

However, the market for the plant is going through an unprecedented crisis.

According to information provided by official sources, during the last year several companies in Israel have closed their doors permanently and the number of products available for purchase has also decreased. At the same time, there has been a significant drop in the number of patients registered to acquire therapeutic derivatives.

According to data from Israel’s Ministry of Health, the number of active companies engaged in cannabis production decreased last year from 52 to 47. In addition, the number of products available on the market decreased from 65 to a total of 59.

These figures occurred despite the fact that Israel reported to the United Nations an increase in the quantities of cannabis harvested with a total of 74.5 tons, almost ten more compared to what was achieved in 2023. However, the figure is still lower than the 89.5 tons obtained in 2022. Imports of derivatives of the plant also fell: last year they entered about 17 tons, when the previous period had been 20.

On the other hand, the number of patients who access medicinal cannabis decreased significantly, from 140,000 to 113,000 according to official data. However, the Ministry of Health explained that this was due to a change in the regulations that allow therapeutic users to receive the products without the need for an official permit, based on prescriptions prepared by their health insurance. However, there are only 10 thousand people in Israel who use this system.

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(Featured image by Taylor Brandon via Unsplash)

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First published in CANAMO. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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