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A hemp research company has set its sights on the Hunter Region just days after the Senate took the first legislative steps toward legalising medicinal cannabis.
A spokesman for Folium Industries said the company was licensed by the NSW Department of Primary Industries to research and breed cannabidiol (CBD) hemp plants for local and international markets.
CBD is one of the non-psychotropic components of cannabis that has promising results in the treatment of certain forms of epilepsy.
The spokesman said the company had already researched and planted cannabis crops this season, but would introduce the plants to the Hunter at the beginning of next season in September.
He commended the Turnbull government’s Innovative Industries Agenda and said the company looked forward to taking an active role in shaping future legislation.
He said they hoped to make Australia a world leader in medicinal cannabis.
“[CBD products are] considered as a very useful medicine for terminal patients, cancer, chronic pain, epilepsy and Crohn’s disease, just to name a few,” the spokesman said.
“Although the legislation has taken time, finally the medicinal properties of the plant have been acknowledged.
“Now it is finally legislated, we can work with government and the public to amend areas of the bill to make this a world-leading model.”
The government is expected to take at least six months to draw up final legislation after consultation with scientists and experts from medical and pharmaceutical fields.
The spokesman for Folium said the company was considering applying for a THC licence when they become available.
“THC is also very beneficial, and the government is working on the regulatory side of licensing now,” he said.
He said that while the discussion was centred around the medical benefits of the plant, cannabis had numerous applications as food, industrial materials and even bio-fuel.
“We look forward to working with government and research facilities to bring this very beneficial plant to be a staple of industry, health and food.”