ECS Botanics Holdings Ltd (ASX: ECS) has commenced its first major hemp harvest programme in Tasmania at a time when the company believes it is well placed to ride out the current COVID-19 storm.
Contract growers having begun to harvest with the expectation of being at full capacity next week and the week after (weather dependent).
Managing Director Alex Keach said the company’s supply chain is yet to be affected by COVID-19, and management does not anticipate any impact on this important harvest, with farmers, harvesters and TapAgrico not experiencing any disruptions that flow through to ECS.
Dare I say the agribusiness and food sector is somewhat insulated during this tough economic period, our ability to do commerce has not been materially impacted and we are seeing increased demand for our products,” Mr Keach said.
“Despite this we are taking preventive measures to cut non-essential costs. This year we will also have a strong inventory position of hemp and will continue to develop our innovative low-cost medicinal cannabis project.
“The company is also alive to the opportunities within our sector that arise from a crisis like COVID-19 and the response to it, and we are actively investigating a number of them.”
