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An Israeli agricultural engineer inspects marijuana plants at the BOL (Breath Of Life) Pharma greenhouse in the country's second-largest medical cannabis plantation, near Kfar Pines in northern Israel, on March 9, 2016.
The recreational use of cannabis is illegal in the Jewish state, but for the past 10 years its therapeutic use has not only been permitted but also encouraged. Last year, doctors prescribed the herb to about 25,000 patients suffering from cancer, epilepsy, post-traumatic stress and degenerative diseases. The purpose is not to cure them but to alleviate their symptoms. Forbidden to export its cannabis plants, Israel is concentrating instead on marketing its agronomic, medical and technological expertise in the hope of becoming a world hub in the field.
 / AFP / JACK GUEZ        (Photo credit should read JACK GUEZ/AFP/Getty Images)
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An Israeli agricultural engineer inspects marijuana plants at the BOL (Breath Of Life) Pharma greenhouse in the country's second-largest medical cannabis plantation, near Kfar Pines in northern Israel, on March 9, 2016. The recreational use of cannabis is illegal in the Jewish state, but for the past 10 years its therapeutic use has not only been permitted but also encouraged. Last year, doctors prescribed the herb to about 25,000 patients suffering from cancer, epilepsy, post-traumatic stress and degenerative diseases. The purpose is not to cure them but to alleviate their symptoms. Forbidden to export its cannabis plants, Israel is concentrating instead on marketing its agronomic, medical and technological expertise in the hope of becoming a world hub in the field. / AFP / JACK GUEZ (Photo credit should read JACK GUEZ/AFP/Getty Images)
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 GO WITH AFP STORY by Desiree Martin A picture taken on April 12, 2013 shows plants of marijuana at the plantation of the Sibaratas Med Can association in Mogan on the southwest coast of the island of Gran Canaria. The plants grow from cuttings for approximately two months and then blossom before being harvested, dried, stored in jars for a month and later processed to be consumed on site. Spanish law prohibits the possession of soft drugs like cannabis in public and its growth to be sold for profit is illegal. But the law does tolerate growing cannabis for personal use and its consumption in private. Dozens of private marijuana smoking clubs operate across Spain that take advantage of this legal loophole that serve cannabis users who do not want to get their drugs from the streets. AFP PHOTO / DESIREE MARTIN (Photo credit should read DESIREE MARTIN/AFP/Getty Images)
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GO WITH AFP STORY by Desiree Martin A picture taken on April 12, 2013 shows plants of marijuana at the plantation of the Sibaratas Med Can association in Mogan on the southwest coast of the island of Gran Canaria. The plants grow from cuttings for approximately two months and then blossom before being harvested, dried, stored in jars for a month and later processed to be consumed on site. Spanish law prohibits the possession of soft drugs like cannabis in public and its growth to be sold for profit is illegal. But the law does tolerate growing cannabis for personal use and its consumption in private. Dozens of private marijuana smoking clubs operate across Spain that take advantage of this legal loophole that serve cannabis users who do not want to get their drugs from the streets. AFP PHOTO / DESIREE MARTIN (Photo credit should read DESIREE MARTIN/AFP/Getty Images)
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(CNN Business) —  

Coca-Cola last month teased the possibility it could get into the cannabis business. But the beverage maker now says it’s not interested in pot.

CEO James Quincey said the company “doesn’t have any plans at this stage” to enter the CBD market, during an earnings conference call with analysts Tuesday.

CBD is a non-psychoactive component of marijuana.

Quincey’s comments came in response to a question from Cowen & Co. analyst Vivien Azer, who asked about rumors that Coca-Cola (KO) was looking at the CBD category.

Coke said in September that it was “closely watching” the growth of CBD as a possible ingredient for so-called wellness beverages. At the same time, rumors swirled that Coke was considering an investment in Canadian cannabis company Aurora (ACB).

It looks like Coke decided to pass.

Shares of Aurora, which just began trading on the New York Stock Exchange last week, rallied nonetheless on Tuesday. So did shares of fellow Canadian pot stocks Cronos (CRON), Aphira (APHQF) and Canopy Growth (CGC).

Even though Coke shot down chatter of an imminent deal with Aurora or other cannabis companies, there is still growing interest in CBD from larger global consumer companies ever since recreational marijuana became legal in Canada earlier this month.

Coke’s archrival Pepsi (PEP) hasn’t completely ruled out a move into cannabis. Chief Financial Officer Hugh Johnston told analysts during its earnings call earlier this month that “it’s fair to say we look at everything” in response to a question about cannabis.

But Johnston added that investing in CBD, especially in the United States, would be a “considerable challenge” as long as marijuana remains illegal on a federal level. It’s legal in nine states and D.C.

That murky legal status hasn’t kept the beer and spirits makers at bay.

Corona owner Constellation Brands (STZ) has a more than $4 billion stake in Canopy Growth.