Australia plans to raise the legal percentage of the legal amount of THC found in commercial industrial hemp cultivation for farmer’s throughout the continent. The Australian Prime Minister believes this change in legislation will allow new cultivars of hemp to be grown that have been considered illegal for decades.
Australia has recently legalized the cultivation of industrial hemp for food consumption purposes. The new legal limit of THC within the hemp industry in Australia has been raised by an entire percent. Industrial hemp farmers will now be able to cultivate varieties that produce up to 1.35% THC. These less stringent guidelines allows for farmers to diversify the types of hemp they grow.
Australia has issued 42 commercial industrial hemp licenses to farmers, mostly in the western part of the country. Prime Minister MacTiernan believes the revival of the hemp industry will create a new profitable export, as well as create agricultural jobs for Australians.
You may be interested
Canopy River Begins Trading on the Toronto Stock Exchange (TSX)Editor - September 21, 2018
Yesterday, Canopy Rivers Inc. (TSXV:RIV) announced that their company has began trading on the TSX Venture Exchange under the ticker symbol RIV. The company works in conjunction with…
Aurora Cannabis in Discussions with Coca-Cola to Produce CBD Infused BeveragesEditor - September 20, 2018
In a press release this week, Aurora Cannabis (TSX: ACB) (OTCQB: ACBFF) confirmed that it has entered into the beginning stages of negotiations with beverage conglomerate Coca-Cola to…
Australian CBD Company Elixinol Begins Trading on OTCQXEditor - September 19, 2018
Yesterday, international hemp-derived CBD company Elixinol (ASX: EXL) began trading on the OTCQX, a U.S. based stock market exchange, under the ticker symbol ELLXF. The company is…