A Queensland-based company has been awarded the state's first licence to legally cultivate and produce medicinal cannabis.

Medifarm director Adam Benjamin said the business planned to start rolling out local products by early 2018.

Medifarm will mainly produce medicinal cannabis oil. Credit:Max Mason-Hubers

"We do appreciate that there are a lot of patients in Queensland as well as Australia who need access," he told reporters on the Sunshine Coast on Friday.

"We have the leading international company from Israel, we have access to their products and we'll be looking to provide a stopgap measure until local production comes online."