Bod Australia signs agreement to develop a line of hemp-based Manuka honey

COSMETICS, natural medicines, and major hemp player, Bod Australia (ASX: BDA), is set to launch a new line of hemp infused Manuka honey.

The ASX listed group has signed an agreement with New Zealand Manuka honey producer Manuka Pharma to develop and manufacture the hemp honey product line.

Under the agreement, Manuka Pharma will source, develop, and manufacture the product, while Bod will import the complete product into Australia.

The new line will be sold through Bod's established sales channels, meaning the product will be able to make its way into the Chinese market.

According to Bod, New Zealand's biggest honey markets are Australia, the UK, China and Hong Kong with global import demand estimated to be around $2.6 billion.

The prices markets pay for Manuka by the kilogram vary from place to place, but medical grade Manuka can fetch up to $1,000 per kilogram.

Initial sales for the hemp-infused Manuka will take place in Australian pharmacies, independent stores, and health and supplement store. Bod will eventually leverage its strategic partnerships in Asia, most notably in China, through its key daigou relationships. Read more

David Simmons - Business News Australia - 19 Jan 2018