Territory Government set to legalise industrial hemp

THE Territory Government has high hopes for a new industrial hemp industry

The Territory Government has high hopes for a new industrial hemp industry

THE Territory Government has high hopes for a new industrial hemp industry.

Legislation introduced to parliament on Thursday would make it legal to grow, process and possess the plant.

Industrial hemp has low levels of tetrahydrocannabinol (THC), the substance which gives other varieties of cannabis their psychoactive properties.

A trial crop in Katherine has proven successful, with the region’s climate conditions expected to give the NT a commercial advantage.

But the Territory Government couldn’t provide an estimate on when an industrial hemp industry could begin, or how much it could be worth to the economy.

Primary Industry Minister Paul Kirby said hemp grain was a “lucrative commodity” with a farm gate price of about $3000 a tonne.

Certified seed fetched up to $10,000 a tonne, he said.

“While it’s still early days, developing a commercial hemp industry in the NT has the potential to create jobs and stimulate the NT economy,” Mr Kirby said.

“This legislation, when passed, will set the authorising environment that will allow farmers, researchers and other private interests to conduct the necessary research required with establishing an industry.

Late last year, Canadian medicinal cannabis giant, the Wayland Group, announced its plan to expand into Australia through the NT by purchasing a majority stake in a Darwin-based company called Tropicann.

At the time, Chief Minister Michael Gunner said the medicinal cannabis industry presented a “real and ­exciting opportunity” for the NT.

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The NT Government is still in talks with the company about awarding the project major project status.

Mr Gunner also indicated last year was willing to look at full legalisation of recreational cannabis use.

But that push appeared to die when his Government killed off a parliamentary inquiry into substance abuse.