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Industrial hemp described as big emerging agricultural product

Posted on January 1, 1998

The cultivation and production of industrial hemp is an emerging billion-dollar business that’s poised to become a significant part ofthe agricultural industry, according to organizers of The Commercial & Industrial Hemp Symposium II, to be held Feb. 18 and 19, 1998 at the Vancouver Trade and Convention Centre.

“Now that Health Canada is preparing regulations for the commercial growth of hemp in Canada, we’re seeing this industry begin to move forward,” says Sotos Petrides, president of Wiseman Noble Sales & Marketing Ltd., which is promoting the event.

Industrial hemp can be used in numerous products as diverse as building materials, paper, textiles, cosmetics and food. Bank of Montreal and National Bank of Canada, among others, have expressed interest in financing industrial-hemp producers.

The hemp industry has had to overcome misgivings about its product’s perceived connections with illegal drugs. However, organizers of the symposium point out that industrial hemp cannot be used as an illicit drug and that the symposium “deals exclusively with industrial hemp — there is no place at this event for the promotion of recreational uses of cannabis.”

Sponsors of the symposium include Bank of Montreal, the B.C. Ministry of Agriculture and the Canadian Pulp and Paper Association. Canadian and international speakers will discuss topics ranging from seed varieties and yield to market testing of hemp oil for cosmetics to hemp cultivation and processing,

Copyright © 1998, Canadian Banker. All rights reserved.

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