Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Bod Australia signs deal to produce hemp-based mānuka honey

ASX-listed Bod Australia signs deal to produce hemp-based mānuka honey

By Sophie Boot

Jan. 18 (BusinessDesk) - ASX-listed Bod Australia has signed an agreement with mānuka honey producer Manuka Pharma to produce a hemp-based honey product line.

Bod, a developer and distributor of cosmetics and natural medicines, is aiming to develop a range of over-the-counter and therapeutic products using cannabis extracts. It says it's building a sustainable, multi-faceted cannabis business through a deal with Swiss manufacturer Linnea Natural Pharma Solutions. The honey agreement will see Manuka Pharma source, develop and manufacture the product, with Bod then importing the honey to Australia and packaging it for sale.

While Bod describes Manuka Pharma as a New Zealand-based company, it is not registered with the New Zealand Companies' Office, and its registration with the Australian Business Register says its main business location is Belrose, New South Wales. Manuka Pharma's website, which has an Australian domain name, links the company to three brands: Australian BeeBio, Wairarapa-based Watson & Son, and ManukaMed, a company which sells wound care in the USA but whose New Zealand Companies Office registration ceased in October last year after the company was placed into liquidation.

The honey will be sold in pharmacies in Australia, and Bod also plans to target health food and supplement stores, as well as Asian markets such as China. The product will give consumers "a source of high-quality protein and essential fatty acids from the addition of hemp seeds, as well as the added health benefits of a high-grade, high methylglyoxal (MGS) manuka honey", Bod said.

Late last year, the government announced a new labelling standard for mānuka honey, set to come into force from Feb. 5, after much industry concern that non-mānuka honey was being misleadingly sold as such. The honey will be tested for four chemical markers and one DNA marker before being sold overseas as mānuka. The UK Trademark Registry has also approved New Zealand's registration of the mānuka honey name, something which the Australian Manuka Honey Association has said it will oppose.

Mānuka honey is worth $180 million to New Zealand every year, and in its statement to the ASX Bod cited a January 2016 report that global import demand for Kiwi honey was estimated to be worth about US$2.1 billion. At the time, ANZ Bank New Zealand rural economist Con Williams said the largest growth opportunities for New Zealand exporters were wealthier countries who are high consumers of honey where New Zealand has low penetration such as the US, Germany, France and other European countries such as Belgium, the Netherlands and Switzerland.

While the high volume markets tend to pay US$21-US$28 a kilogram, higher value markets will pay US$30-US$50/kg and medical grade mānuka can fetch up to $1,000/kg, Williams said.

Bod's ASX-listed shares rose 4.2 percent to 62 Australian cents.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>