Australia
Since 2017, Australia has reported significant growth for its hemp industry and is predicting annual revenue to be $3 million or more for the years ahead! Furthermore, the Australian hemp market as a whole is anticipated to reach $20 million by 2028. As of 2022, it is legal to grow hemp in all of Australia's states and territories!
Victoria- .35% THC
Queensland- 1%THC
Western Australia- 1% THC
New South Wales- 1%THC
South Australia- 1% THC
Tasmania
Tasmania legalized hemp cultivation in 1971, under The Poisons Act, which allowed farmers to grow hemp that did not exceed .35% THC. Decades later in 2015, the The Industrial Hemp Act was introduced, and has since increased the legal threshold to 1% THC.
In addition, the Industrial Hemp Act authorizes growers to apply for:
a license to supply
a license to cultivate
a license to manufacture
a license to research
a combination of the above license types
A license can be issued for up to 5 years and has no associated fees!
Tasmania is estimated to grow 66% of Australia's hemp, with around 2,500 hectares dedicated to cultivating hemp. In addition, Tasmania’s hemp industry generates nearly $5 million in annual revenue and produces 1,500 tones of hemp!
New Zealand
New Zealand’s local government implemented the Misuse of Drugs (Industrial Hemp) Regulations 2006, which set the new THC limit to .5 %.
Under the Industrial Hemp Regulations 2006, individuals could apply for a:
Possession License
Cultivating License
Processing License
The licenses are issued for a one year period and require a $500 fee.
Farmers and entrepreneurs are seizing the opportunity to take part in the emerging hemp industry. Notable Australian companies that are capitalizing on the CBD market are Ecofibre Limited and Elixinol Wellness.