Supporters of hemp to gather
Businesspeople hoping to make big bucks from a legal homegrown cannabis industry will formally gather later this year.
The time was right for the first iHemp Summit, chairman Richard Barge said, given Parliament was considering bills to allow for the use of medicinal cannabis and the sale of hemp-based food.
Submissions on the Misuse of Drugs (Medicinal Cannabis) Amendment Bill closed last month. Regulation for the growing, manufacturing and sale of medicinal cannabis is being deliberated by Parliament.
Submissions on the Misuse of
Drugs (Industrial Hemp)
Bill remained open. Barge said a proposed tweak to the Food Act would let firms sell low-THC hemp seed food products.
The event would focus on the business opportunity for hemp food and fibre, but its use for medicinal purposes would be discussed too, he said.
The summit was the only shot the industry had at showing itself in a positive light to regulators.
‘‘Here we have this opportunity to introduce a new primary industry. With the positive intent of the Government, we could really move things forward.’’
Farmers, scientists, finance and legal experts would discuss how to make the most of a changing framework for hemp sales, and foresee any hiccups.
They would stress the importance of the need to export hemp products, Barge said.
‘‘Hopefully the bill will include a provision for export. An industry has got to include [exporting].’’
The organiser of the summit, the New Zealand Hemp Industries Association, is set to meet Agriculture Minister Damien O’Connor in June.
The summit is scheduled for July, in Wellington.
One of the speakers, Deloitte partner Andrew Gibbs, said the hemp industry was building serious momentum globally.