Ste. Agathe, Manitoba -- On behalf of Agriculture Minister Gerry Ritz, Member of Parliament for Provencher Ted Falk announced today a repayable contribution of up to $4.6 million to Hemp Oil Canada to help build a brand new world-class hemp processing facility with the latest in conveyance, processing and quality assurance equipment.
This new facility will implement the latest processing technology to further enhance food quality standards and significantly increase the company’s capacity for delivering high quality hemp products to buyers around the world. This strategic investment will boost the competitiveness of the hemp sector and create opportunities for Canadian producers for years to come.
- Founded in 1998, Hemp Oil Canada was one of the first Canadian companies involved in processing hemp following 60 years of prohibition.
- In 2012, Canada exported over $21 million worth of hemp products to international markets.
- In the last three years, the cultivation of hemp has been on the rise. In 2012, the total retail value of hemp products in North America alone exceeded $500 million. This includes food and body products, clothing, auto parts, building materials and other products.
- This investment is made through the Enabling Commercialization and Adoption stream of Agriculture and Agri-Food Canada’s AgriInnovation Program, a five-year, up to $698 million initiative under Growing Forward 2.