Hemp Foods Australia is doing so well the company is projecting 400% growth over the coming 12 months.
CEO Paul Benhaim chalked the firm’s success up to overseas demand for the hemp products’ health benefits, which are particularly big in Japan, he said, according to Australian broadcaster ABC. Benhaim recently met with the First Lady of Japan, Akie Abe, at the first-ever Kyoto Hemp Forum.
To meet demand for the company’s products, the company is upgrading a factory in New South Wales to manufacture hemp-based snack bars, drinks, pastas, fiber supplements, and more, Benhaim said.
Even though it’s still illegal to sell hemp products for human consumption in Australia, the federal government granted the company $600,000 to build out its factory and bolster its export capacity.