The NSW Government has released a new plan aimed at growing the state’s low-THC hemp industry, which is forecast to become worth $100 million nationally by 2032.
Minister for Agriculture and Regional NSW Tara Moriarty said the plan was designed to position the state as a leader in the emerging sector.
“The Minns Labor Government is backing industrial hemp as a new growth industry for regional NSW, creating jobs, attracting investment and supporting sustainable regional development.”
The Hemp Industry Development Plan sets out a roadmap for growth through research and development, stronger supply chains, market expansion and a more supportive regulatory framework. It was developed in consultation with industry stakeholders and is intended to position hemp as a mainstream crop of the future for farmers, manufacturers and regional communities across NSW.
“The Hemp Industry Development Plan is a game changer, positioning NSW to build a modern, innovative and profitable hemp sector,” Moriarty said.
The plan focuses on four main areas: identifying opportunities to attract private investment and improve access to processing and value-adding facilities, including support for Aboriginal businesses to participate in the industry; improving the state’s hemp licensing system and reviewing legislation to make it easier for the industry to operate; strengthening research partnerships and providing better information to hemp businesses on growing, production, biosecurity and business development; and working with other states and the Australian Government towards a more consistent national approach to hemp regulation.
“This plan will unlock new investment and opportunity in regional NSW, strengthening the state’s emerging industrial hemp industry for the future,” Moriarty said.
Industrial hemp has a wide range of potential uses, including as a fibre for textiles, rope, composites and building materials, with added environmental benefits through biomass for soil improvement and carbon capture. Hemp seeds can also be processed into oils, food ingredients, protein powder and cosmetics. Globally, hemp is estimated to be used in more than 25,000 products spanning nine sub-markets, including agriculture, building materials and textiles.
The NSW Hemp Industry Taskforce has been reinstated to monitor the plan’s progress, and the government has flagged amendments to strengthen the regulatory framework for hemp licence holders in NSW.
“We’re working closely with the NSW Hemp Industry Taskforce to turn this vision into action and deliver a strong, sustainable future for the hemp industry,” Moriarty said.
The full Hemp Industry Development Plan is available at nsw.gov.au/departments-and-agencies/dpird/hemp-industry-development-plan.
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