Australia’s Caason Group said its recent purchase of a 1,047-hectare farm fits with the company’s plans to develop industrial hemp crops in Australia’s Northern Territory.
Caason Group purchased the property, Oolloo Farm, located 200 miles north of Alice Springs, for AU$6.1 million (US$4.6 million). The property, which has a 1,000-megaliter-per-year water extraction license and six center pivots, has been a producer of irrigated hay.
“We expect the group’s existing interests in industrial hemp will benefit from the purchase and, subject to relevant approvals, enable the group to continue its development in this exciting growth sector,” said Caason Group managing director Craig Astill. Astill said Oolloo Farm would be run by subsidiary Ti Tree Food and Fodder.
Read more at hemptoday.net.
