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News Americas, NEW YORK, NY, Weds. Aug. 17, 2022: Lawmakers in the oil rich South American CARICOM nation of Guyana have blazed into the world of hemp.

The Industrial Hemp Act was introduced in the National Assembly of the Parliament of Guyana in May and passed Aug. 8th. The passed industrial hemp law that decriminalizes hemp cultivation and paves the way for a licensed industry even as marijuana remains illegal.

The regulator will be able to issue licenses for individuals or companies to cultivate hemp and manufacture hemp products, “including foods, textiles, furniture, medicines and cosmetics,” according to the law.

Research licenses will also be permitted.

Industrial hemp is defined as cannabis and derivatives with less than 0.3% THC concentration by dry weight.

Minister of Agriculture Mustapha Zulfikar said he expects hemp production to serve as an economic boon and “a valuable source of foreign exchange,” according to Caribbean National Weekly.

Guyanese President Mohamed Irfaan Ali sees an opportunity to convert marijuana farmers to hemp, the Stabroek News reported.

The legislation is available here.

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