He has told BBC Sinhala Service that the produced cannabis would be supplied to drug manufacturers, and the surplus sold overseas.
Senaratne said minister P. Harrison has been asked to bring around 1,000 acres under medicinal herb cultivation to meet the demand.
Even 4,000 or 5,000 acres will be OK, he said, as he expects to manufacture 90 per cent of the western medicines locally.
A short-supply of Cannabis
Also, aloe can be cultivated in 1,000 acres even, and the government is prepared to buy the produce, he said.
The health minister went onto say that aloe and Katuwelbatu can be cultivated easily and harvested within six months, but the country still imported her Katuwelbatu requirement.
He said there had been a short-supply of cannabis which is used in indigenous medicine, and had to be imported from India.
Cannabis has a good world market demand as western medicine uses it in the treatment of chronic neurological disorders and also as a painkiller, he noted.
The minister said that cannabis is not banned in Sri Lanka, but that its cultivation without permission and use as a narcotic drug are banned.
Cannabis is sold publicly in the Netherlands
In the global scene, Canada and the Netherlands are cannabis growers and Australia, Uruguay and Israel hope to join in its cultivation.