Lebanon Becomes First Arab Country To Legalize Medicinal Hemp

Lebanon has become the first Arab country to legalize cannabis for medicinal and industrial purposes. Cannabis can also be exported, providing North America and other parts of the world with stiff competition.

Lebanon has a warm mediterranean climate perfect for year-round growth. With more than a century of illegal cannabis experience, the Arab country knows how to grow pot. Lebanon is the third largest supplier of cannabis resin – aka hashish – in the world. This could spell trouble for North American cannabis companies.

Now the catch is the new Lebanese law addresses hemp, since the plants’ THC content must be less than 1 percent. With hemp farming legal now in the United States, Lebanese hemp could potentially drive down profit margins in the USA. Industry expert contend there’s already an oversupply of hemp in the States.

For cannabis growers and sellers, increased hemp production in Lebanon won’t have any impact on Marijuana sales. Or on Marijuana stocks.

But Lebanese cannabis companies could appear on the global stage, making some interesting investment opportunities, contends the Motley Fool, a stock advisor that publishes a newsletter. While these developments may still be many months away, the laws of economics dictate the bigger the supply, the lower the price. So in the years ahead, with so much offshore competition, buying stock in domestic growers may not be the best choice, Motley Fool concludes.

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Mike Brennan
Mike Brennan is Editor of Michigan Marijuana Report (mimarijuanareport) a cannabis, hemp and CBD news portal website for Michigan and the Great Lakes States. He has been a professional reporter and editor since 1981.

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