AU: MMJ industry poised for growth in Bundaberg region

The Bundaberg Region is poised to become Australia's premier growing area for medicinal cannabis as governments move to relax restrictions and develop the industry.

THC Global last week announced it will begin production in the region after securing a lease over greenhouses and farmland.

The company expects to start supplying the market early next year.

Bundaberg Regional Council's executive director strategic projects and economic development, Ben Artup, said the industry's potential is huge.

“Bundaberg offers the perfect climate for growing medicinal cannabis,” he said.

“International opportunities are strong with many leading players directing their interest to Asia, which has an estimated value of US$5.8 billion for medicinal cannabis and an estimated 1.6 million potential patients by 2024.

“This expansion will create more higher-value technical and scientific jobs in our region.”

Mr Artup said agriculture is becoming a more technologically advanced sector – one based on research and technical skills to be productive.


Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

© 2020

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber