1MG FlippingBooks
Blog Post
Australia aims for slice of $61.5bn hemp industry
Elizabeth Gracie
This first successful export of hemp seed to New Zealand has taken place under 2017 legislation that allowed the transfer of low-THC hemp seed foods.
Australian hemp growers were permitted by the Australian and New Zealand Food Standards Code to access the growing THC hemp seed food products export market, an industry worth more than $500m globally.
It is a stepping stone to a medicinal cannabis export market, with the global medical cannabis industry expected to be worth approximately $61.5bn Australian dollars by 2024.
This effort included the legalisation of exporting cannabis products in February 2018 through the Narcotic Drugs Amendment Regulations Act.
The move will ensure that legitimate and legally sanctioned exporters of narcotic goods such as seeds, raw hemp and hemp food products are supported and allowed to access emerging export markets.
Minister for Agriculture David Littleproud welcomed the move to capitalise on the global hemp export market.
“For Australian farmers, reliable access to overseas markets means increased profitability and certainty for further investment in their properties and people,” said Littleproud.
Australian farmers will also reap the benefits of an open hemp market as well as supporting a legal and stable medical cannabis industry in Australia
“For the Australian economy, it means more jobs, more exports, and higher incomes in a competitive and profitable agricultural sector,” said Littleproud.
“The new legislation removes unnecessary regulatory barriers and will support better access to international markets for the emerging hemp and medical cannabis industries”.
Littleproud says the open market will lead to a more prosperous and productive Australia.
NEWS
Following from another record year for beef production and exports, we anticipate opportunities for Australian beef to continue into 2025, especially in markets like the US which is in a cattle herd rebuild and was our number one export destination for beef in 2024.
Cutting-edge mobile technology is revolutionising on-farm decision making, but what makes agtech especially successful is when it complements farmer knowledge and links with on-farm practices, in a user-friendly manner.
Trace elements play a crucial role for Australian livestock producers. Long-Acting trace element bolus improves productivity, fertility, health and profitability. One dose, complete peace of mind.
The next-gen Mitsubishi Triton ute is the latest incarnation in an evolution of tough, reliable vehicles, that began in 1937.
Cattle producers are reaping the benefits of improved herd fertility, increased weight gain, and fewer stock losses thanks to strategic supplementation with trace minerals
Some milestones are marked with fanfare – others with piles of freshly picked colourful spring produce, protein-packed prime cut lamb, pork and beef; fresh catch seafood; creamy white mould cheese, pasture-reared eggs or pure honey. All that’s fresh and farm direct and destined to mark the 25 th Year of Australia’s vibrant farmers’ market sector.
A selection of The Australian Farmer Sponsors - Click on a banner below to find out more...
CONTACT US
Phone: +61 2 9884 9660
solutions@onemandate.com
LET’S CONNECT
SIGN UP FOR OUR NEWSLETTER
