The Australian Hemp Industries Association (AHIA) is the biggest producer of hemp in the country.
In recent years, it has invested heavily in the cultivation and marketing of the plant, which can be grown for its fibrous fibres, oil, and fiber.
Its hemp industry employs about 30,000 people and is valued at $12 billion.
Its hemp farmers are licensed by the State Government and it has a licence for commercial hemp production in Victoria.
However, there is an ongoing debate in Australia about whether or not to legalise the hemp industry.
The Federal Government is in the process of drafting its National Hemp Farming Strategy.
Last year, the Government passed legislation which would have allowed for the growing and marketing, sale and distribution of hemp.
This is currently being debated in Parliament and will be debated again this month.
As the Federal Government continues to pursue its national strategy, it is crucial that Australian hemp producers continue to grow, manage and sell their product to ensure that the Australian economy and society is thriving.
Read moreAbout the Author: Dr Peter Tett is an independent consultant with the Institute of Agriculture and Trade Economics (IATEE).
He has a degree in Agricultural Economics from the University of New South Wales and is an accredited Agricultural Consultant.
He is an adjunct professor at the University, Sydney and holds the NSW Research Chair in Agricultural and Horticultural Technology.