Earmarked as a high potential emerging industry, AgriFutures Australia is working closely with the industrial hemp industry to reach its target of $10 million annual gross value of production by 2025. Key to this goal is the new investment towards a business case for a National Industrial Hemp Variety Trial, funded by AgriFutures Emerging Industries Program which seeks to better understand the hemp varieties best suited for Australian conditions.

Through extensive industry consultation, this project aims to identify, scope and cost a range of trial options and negotiate co-investment from private and public research and development investors, including state governments.

Independent corporate advisory firm, Rounding Up, is working in conjunction with the Australian industrial hemp industry, an industrial hemp steering committee and AgriFutures Australia with the intent of a business case to facilitate the commencement of the variety trials in late 2020.

This project commenced in September 2019 and will conclude in August 2020 and incorporates a three phase approach:

  1. Consulting industry to build a commercially-centred and sustainable business plan for the Australian industry
  2. Designing an industry-sponsored Industrial Hemp Variety Trial Scheme scheme that enhances product knowledge and grower management practices
  3. Sourcing co-sponsorship and funding from government and private investors to actualise the business plan.

The project is now entering the draft design phase (following industry consultation which involved national workshops and conversations) will identify, scope and cost a range of variety trial options, gauge industry support and negotiate co-investment from public, private and not-for-profit sectors.

As part of the consultation process a national survey is being circulated to industry to further validate findings and the intended approach to the national trials.

Anyone with an interest in industrial hemp; from growers and processors, to researchers and enthusiasts, are invited to get involved in the project via the national survey.

A project update will be provided at the 2nd Australian Industrial Hemp Conference, along with a technical review of the trial model with a range of industry, research and commercial trial design experts. Preliminary data from the national survey will also be shared at the conference.

Who we are

Following an Expressions of Interest (EOI) process in early 2019, corporate advisory firm Rounding Up was selected to manage the Project.

Rounding Up was established in 2007 to service clients seeking capital and commercial partnerships, strategy development, R&D and project management support. The firm brings significant experience partnering with diverse stakeholders to deliver value across a broad cross-section of agricultural products. The Rounding Up team includes Tony Eyres (Principal) and Andrew Bulkeley (Senior Associate).

 

The Project also incorporates a Steering Committee comprising industry experts, volunteering their time to provide regular input and guidance to the Project. Members include:

  • Shane Garozzo, SativAus Group;
  • Kirsten Lunoe, Canna Hemp Care Pty Ltd
  • Matt Box, Australian Industrial Hemp Alliance (AIHA)
  • Tim Schmidt, Hemp Harvests Pty Ltd
  • Tim Castle, Hemp Association of Tasmania
Contact

Tony Eyres
Rounding Up, Principal
+61 429 069 072
sativa@rounding-up.com

 

 

Andrew Bulkeley
Rounding Up, Senior Associate
+61 488 448 236
sativa@rounding-up.com

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Fact sheet: National Industrial Hemp Variety Trial

Earmarked as a high potential emerging industry, AgriFutures Australia is working closely with the industrial hemp industry to reach its target of $10 million annual gross value of production by 2025.

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Project updates

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National Industrial Hemp Variety Trial - May 2020 update

AgriFutures Australia is supporting the development of national industrial hemp variety trials (IHVT), to address a core issue identified by Australian industry as essential to its growth ambitions.

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Industry invited to shape nation-wide industrial hemp variety trials

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