Insights

Australian Primary Hemp (ASX:APH) share price surges 7% on new deal

The Australian Primary Hemp Ltd (ASX: APH) share price is soaring on a positive update from the company. We take a closer look.
The post Australian Primary Hemp (ASX:APH) share price surges 7% on new deal appeared first on The Motley Fool Australia. –

cannabis leaves on a rising line graph representing growth of ASX cannabis share price

The Australian Primary Hemp Ltd (ASX: APH) share price is performing strongly during early-afternoon trade. This comes after the company announced it has teamed up with Annex Foods, an Australian-owned health and snack food company.

At the time of writing, the premium plant-based and wellness company’s shares are fetching 45 cents, up 7.14%.

New partnership agreement

Australian Primary Hemp shares are on the move, with investors appearing upbeat about the company’s future prospects.

According to this morning’s release, Australian Primary Hemp has signed a 2-year exclusive agreement with Annex Foods. This follows close collaboration between the two companies in helping expand Australian Primary Hemp’s market presence.

Under the deal, Australian Primary Hemp will supply its Australian-grown and processed Hammer Milled Hemp Meal to Annex Foods. This will be used exclusively as an ingredient for products under Annex’s ‘Red Tractor’ brand. Red Tractor is a well-recognised health food brand that is sold across leading supermarkets in Australia, and overseas in ten countries.

The latest agreement is expected to generate revenue of $250,000 for Australian Primary Hemp over the next two years.

Management comments

Australian Primary Hemp managing director and CEO Neale Joseph welcomed the new deal, saying:

We believe that this second agreement with Annex demonstrates our ability to meet customer needs in terms of product quality and customer service. The partnership with Annex continues our strategy of delivering great customer outcomes with Australian grown produce.

Annex managing director Kane Fetterplace went on to add:

Annex Foods is committed to using Australian grown ingredients in our products and is delighted to partner with progressive companies like APH. The agreement extends our range of Red Tractor Australian grown grains and seeds to include world class hemp products.

Australian Primary Hemp share price summary

Australian Primary Hemp shares have fared particularly well since the beginning of November 2020 and are up 150% in just 6 months. Looking at year-to-date performance, the company’s shares have gained around 29%.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Australian Primary Hemp (ASX:APH) share price surges 7% on new deal appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!