Today the Legislative Assembly passed the Territory LaborGovernments Hemp Industry Bill, paving the way for an exciting new opportunityfor Territory farmers as soon as Dry Season 2020.
The legislation enables farmers and researchers to keepworking together developing an NT hemp sector, facilitating investment and jobcreation opportunities in regional areas.
The Bill, introduced in May, exists to create a requiredframework in order to regulate the development and operation of an industrialhemp industry in the Northern Territory, capitalising on emerging marketopportunities.
Under the bill, a licensing system now exists forpossession, cultivation, supply, processing and research of Industrial hemp,and covers the various prohibitions, necessary enforcement provisions, offencesand miscellaneous arrangements to support this industry.
The industry will see two main opportunities grow from thepassing of this new bill, both a fibre and grain industry (THC levelsunder 1%), and a viable seed industry (THC levels under 0.5%).*
The NT will have a competitive advantage in the emergingindustrial hemp market in Australia, with the potential to supply a viable seedindustry to other Australian jurisdictions via a dry season crop, supplyingviable seed the rest of Australia for summer planting.
The potential for two dry season crops for Territory farmseach Dry Season increases the potential return to farmers, with hemp graincurrently garnering a farm-gate price of around $3,000 per tonne.
Other uses for industrial hemp fibre include line, rope,clothing, sunscreen, shampoo, lotions, soap, biofuels, stock feed, paper, buildingmaterials, and as a highly nutritious food source.
As noted by Minster for Primary Industries and Resources,Paul Kirby:
The development of this industry is a real green shoot forthe jobs and export economy here in the Northern Territory diversifying our economy and creating local jobs.
As an emerging superfood with many other uses, this industry will develop and grow as soon as next year,seeing our pastoralists given a new opportunity to diversity their cropofferings here in the Territory.
As noted by CEO, NT Farmers, Paul Burke:
NT farmers are reallyexcited about the opportunities this new, emerging crop type may present theindustry.
Industrial hemp has real potential in our current climaticconditions and could be a viable new industry on a broadacre scale which is anexciting proposition.
NT farmers looks forward toworking with Government to facilitate somemeaningful trials in the NT to explore the full potential of Industrial Hemp.
*THC, or Tetrahydrocannabinol, is the level of potentialpsychotropic properties in the industrial hemp plant, with levels above 1%considered to be Cannabis. Below 1% is widely considered to be safe for humanand animal consumption.
