Agriculture Victoria has granted Murray River Organics Ltd (MRG) to grow low-THC cannabis on it’s Nangiloc property. The license will see the organic wine producer enter the organic hemp market which has seen a rise in demand over the past few years. MRG announced plans for Project Magnum in May which will see the development of the 2300Ha property, beginning in the new financial year, meaning this new license will provide additional scope for the company.
In a statement on Wednesday, MRG Chief Executive Valentina Tripp stated, “The Australian hemp market is in its infancy; the Company now has the potential to be the first large scale grower of organic hemp in Australia to meet the strong demand in global markets.”
“The growing demand for organic hemp-based foods is an emerging trend in the food industry and we believe this offers a unique opportunity for MRG.”
“This also affords us the opportunity of establishing and developing another vertical integration of production through to retail ready product while building strategic partnerships with such products,” Tripp said.
“We are confident that growing organic hemp will contribute to the growth of the organic food industry in Australia. Low-THC cannabis can be used in a variety of food products including snacks and beverages, as well as supplements, and the potential for the agricultural sector in Australia to embrace crops such as organic hemp is exciting.”