MCL PIONEERS UNIQUE WINTER CROP AHEAD OF HEMP SEED LEGALISATION

THE cannabis-producing subsidiary of Queensland Bauxite (ASX: QBL) is successfully growing its first winter hemp crop, following the decision earlier in the year to allow consumption of hemp seeds in Australia.

In April, the Forum of Food Regulations (FOFR) approved recommendations to change Australia's food code to allow for hemp seed consumption, a law which is expected to come into effect in November 2017.

To capitalise on the new market, Queensland Bauxite's subsidiary Medical Cannabis Limited (MCL) has successfully germinated a winter crop which will be ready for harvest around the time of legalisation.

Andrew Kavasilas, managing director of Queensland Bauxite and technical director at MCL says the crop is unique, in that hemp is primarily grown during the summer.

"As far as we know, we are the only company doing such winter cropping, we anticipate that the industry at large will come to benefit from the type of work we're doing in the field," says Kavasilas. Read more

Paris Faint - Business News Australia - 3 July 2017