A company moving its headquarters to Byron Bay has signed a $ 92 million contract to supply medical cannabis to the European Union.
The Australian Natural Therapeutics Group has shipped the first Europe-grown batch of Australian-grown commercial medicinal cannabis flowers.
It marks the beginning of a landmark ten-year agreement between ANTG and the EU market.
In the first 18 months of the contract, around two tons of products are expected to be delivered to Germany.
Matt Cantelo, CEO of ANTG, said it was a big step for Australian industry given the EU’s advances in medical cannabis legislation and its strict import regulations.
« While the German cannabis industry is still in its infancy, it is the third largest market in the world after the USA and Canada.
« We are the first local producers to break into the EU market, which currently has most of the imported products from Canada and the Netherlands.
« Now that we have the gold standard for growing and manufacturing medical cannabis – in line with the strictest in the world – this means that our product is also suitable for export to all other countries. »
He said their growing standards were based on tight controls, from water quality to the available light and carbon dioxide levels in the air.
« The high benchmarks in Australia have been a welcome approach – they make us the best in the world and keep the cowboys out of the industry, » said Cantelo.
« Australia also has a reputation and climate for generally growing great produce. It makes sense that we also produce the highest quality non-irradiated cannabis medicine. »
Health Secretary Greg Hunt said Autralia’s « gold standard regulation » along with a « premium agro-manufacturing industry » has « positioned the local industry well to become a preferred supplier for the global market ».
« This has the potential to create jobs and fuel economic growth in Australia as we look for new and different export channels, » said Hunt.
« In the next 12 months, we expect the medical cannabis industry to grow strongly, both domestically and in the export market.
« We congratulate the Australian Natural Therapeutics Group on this milestone, which marks the first major commercial export of medicinal cannabis to the EU.
« We continue to work with the industry to expand domestically growing and manufacturing, and to ensure a steady supply of cannabis medicines that are sourced from locally grown cannabis and made entirely in Australia. »
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