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Australia: How cannabis could revamp the Christmas Island economy

Submitted by Marijuana News on Mon, 11/16/2015 - 08:45

It may be thousands of kilometres away from Perth's corporate heart, but Christmas Island is being eyed off to become home to Australia's first medicinal cannabis industry.

Could cannabis revamp Christmas Island's economy?

The studies show the island is ideal for growing medicinal cannabis.

The work of Murdoch's team is so promising, they stand poised to sign a deal to become the research arm of AusCann, a Perth-based medicinal cannabis company chaired by former Liberal MP Mal Washer.

They plan to plant the first trials of industrial-grade hemp in January, subject to WA Government approval.

"Globally, it's an emerging market and it's just the right time to do it," Murdoch's Centre for Rhizobium Studies research leader John Howieson said.

However like many investors, they are waiting to see the detail of legislation due to be introduced to Federal...

READ MORE: 
http://www.abc.net.au/news/2015-11-15/could-medicinal-cannabis-transform-the-chr…
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