A huge milestone has been reached in the establishment of an industrial hemp industry in the Territory with the first commercial licence being awarded.
The awarding of the licence will now see the first crop of industrial hemp grown right here in the Territory, opening the door for new jobs, manufacturing and export opportunities for the Territory.
Hemp is a versatile and profitable product which is used for food, fibre, oil, seed and potentially stock feed – and is used in the manufacturing of products like cosmetics, clothing, rope and other building materials.
The establishment of this industry in the Territory has the potential to facilitate further investment and job opportunities, and shows the world, the Territory is open for business.
The Territory has a competitive advantage when growing hemp, with the potential to produce a viable dry season seed crop which can be supplied to the rest of Australia for summer planting.
The awarding comes following the commencement of the Industrial Hemp Act 2019 earlier this year (2020).
Source: NT Government