Last Friday, New Zealand's regulatory minister David Seymour announced a review of "outdated and cumbersome regulations" surrounding industrial cannabis. This is the result of years of effort by cannabis growers, processors, and related companies, who have been subject to restrictions imposed by regulations enacted in 2006 that handed over planting licenses to the Ministry of Health. Due to industrial hemp being classified as a Class C controlled drug under the Drug Abuse Act, growers need to obtain a license from the Ministry of Health. However, Richard Barge, the President of the New Zealand Cannabis Industry Association, stated that industrial cannabis contains only "very trace amounts" of tetrahydrocannabinol (THC), a psychoactive compound found in cannabis, which is closely related to cannabis. He hopes that this review can change the stigma surrounding industrial marijuana and cannabis, and unleash its numerous growth opportunities in thriving fields such as health and wellness.

The positive and supportive comments, suggestions, and actions proposed by the government will help us eliminate the stigma of marijuana in discussions, "Barge said. Industrial marijuana should be removed from the control of the Drug Abuse Act, which has led to a decrease in planting area and license numbers in recent years. The association commissioned Dr. Nick Marsh to write a report funded by AGMARDT in 2020, which stated that if regulations permit, the value of the industrial cannabis industry could reach $2 billion by 2030 and create 20000 job opportunities. Barge stated that the current practice of treating cannabis products as food or fiber is outdated. People's attitudes towards industrial cannabis have changed, realizing that it is different from cannabis or medicinal cannabis. This industry has attracted widespread attention, and if we can seize this interest, truly move forward, and cooperate with our region to realize economic opportunities, employment, and investment potential, then we have a successful model for revitalizing rural New Zealand. "This week, before announcing the regulatory review on Friday, the Special Committee on Primary Production also raised this issue. Seymour stated that excessive regulation has suppressed economic growth and innovation in the industry, and it is now time to adopt a new approach that strikes a balance between risk management and unlocking opportunities for growers.

The regulatory department has received a large amount of feedback on the red tape that hinders the industry through its review of agricultural and horticultural products and the red tape hotline. In response, the regulatory department is working with MedSafe and the Ministry of Health to re evaluate these regulations that have been in place for nearly 20 years. The reform plan will be submitted to the cabinet later this year.