The Cannabis Party is calling for legislation to create a specialised hemp licencing body.
The Medicines Control agency is unsuitable for regulating and licencing hemp, according to the Cannabis Party.
"The two months wait to obtain a licence is too slow and bureaucratic, while the $511 fee is revenue gathering," party leader Julian Crawford said.
"Lower fees and relaxed hemp regulations could add millions to the economy each year."
Crawford said many farmers were being prevented from growing hemp because of the strict regulations and those that did gain a licence often faced a late start to the season while waiting for it.
"Medicines Control are experts in medicines not industry and they are rushed off their feet trying to cope with their hemp responsibilities," he said.
"Two months for a police clearance is also too slow in this day and age."
- The Cannabis Party