Elixinol (ASX:EXL) are set to see significant trade opportunities after the US senate passed a 2018 farm bill today including the Hemp Farming Act.
Industrial hemp cultivation and hemp products are to be legalised.
This change, once it clears the house and is signed by the US President, will remove significant existing barriers to trade, by more widely opening up the ability for hemp growers, processors and product manufacturers to access finance and insurance services without restriction, and provide better access to water rights.
Elixinol Global (ASX:EXL) operates in the industrial hemp and emerging medicinal cannabis sectors.
Shares in Elixinol (ASX:EXL) up 7.91 per cent to $1.50