The New South Wales Government has established the Hemp Industry Taskforce to support growers across various sectors, generating employment opportunities in rural and regional areas.
Comprising up to ten representatives from growers and industry associations, the taskforce will deliberate on strategies to facilitate the expansion of the NSW industrial hemp sector, the government said in a media release.
Data reported shows that the global hemp market is projected to surge to $18.7 billion by 2027. Hemp’s versatility is evident in its usage across more than 25,000 products spanning agriculture, building materials, textiles, and various other industries.
Facilitated by the NSW Department of Primary Industries, the taskforce will convene monthly meetings to outline short, medium, and long-term objectives for the industry.
Key areas of focus include exploring the role of industrial hemp in transitioning to a net-zero circular economy, establishing robust supply and value chains, addressing legislative barriers, and examining opportunities for national regulation harmonisation.
The taskforce will strictly adhere to the legal framework outlined in the NSW Industrial Hemp Act 2008. Specifically, discussions will centre on permissible uses of hemp plants under this legislation, excluding considerations related to hemp production for therapeutic purposes, which require separate licences and approvals.
The genesis of this taskforce can be traced back to the NSW Hemp Industry Roundtable convened in 2023.
Hosted by Member of the NSW Legislative Council Jeremy Buckingham and attended by Minister for Agriculture Tara Moriarty, the roundtable laid the groundwork for collaborative efforts aimed at advancing the hemp industry in the state.
Minister Moriarty expressed that her participation in last year’s Hemp Industry Roundtable was pivotal in gaining insights from industry stakeholders.
She highlighted, “Currently, the Hemp Industry Act 2008 facilitates the cultivation and supply of low THC hemp fibre and seed production in NSW under controlled conditions, without compromising the effectiveness of existing drug enforcement strategies of the NSW Police.”
Additionally, she mentioned that the Hemp Industry Regulation 2016 regulates the cultivation and supply of low-THC hemp for commercial production and other legitimate uses.
“Guided by the taskforce outcomes, the Government can consider what work is required to reduce red tape and provide the regulatory environment to support the industrial hemp industry grow and deliver jobs to regional NSW,” the minister noted.
Meanwhile, Jeremy Buckingham described the establishment of the taskforce as a transformative step for an industry with immense potential to create jobs and bolster farming in NSW.
“This is a plant which is up to 25 times more effective at capturing carbon than forestry, and which offers almost unlimited potential in a wide range of areas including clothing, construction, foodstuffs, paper, medication and more.”
He commended the NSW Government for supporting the industry and anticipated exciting prospects for manufacturing, a transition for logging communities, and new opportunities for environmentally friendly crop cultivation among farmers.
