Hemp Producer Ecofibre Ditches Australia’s Medical Cannabis Rules for the US
Citing Australia’s onerous security requirements for growing medical cannabis, prominent Australian industrial hemp grower Ecofibre announced it will move its medical cannabis capabilities from Australia to the United States.
The company, backed by Australian millionaire Barry Lambert, has been producing industrial hemp for more than 15 years for use in medical research, fiber, and food products. Despite a stated desire to lead the medical cannabinoid industry in Australia, the regulatory red-tape in Ecofibre’s home country has proven too much for the company to realize that goal, executives said when announcing the move last week.
“The draconian measures being put in place in Australia do not in any way support patients’ rights to access medicinal cannabis and equally makes it commercially unviable for producers and manufacturers,” said Eric Wang, Ecofibre’s director and chief finance officer.
“Draconian and antiquated regulations are the only reason we are leaving Australia,” he added. “We wish...
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