What will happen to the CBD industry after Brexit?


What will Brexit do to the UK CBD industry? In all honesty, it feels like Brexit has already happened, doesn’t it? Though the United Kingdom left the EU officially on January 31st there are a lot of details to iron out. Not the least of which is the withdrawal agreement. You may have heard the term ‘No Deal’ Brexit in the last year. This is exactly what it’s referring to. The EU and the UK need to decide on a range of issues that will come under the latter’s exit and their future relationship. Not the least of which are the issues raised by the border in Ireland. This border divides the Republic of Ireland from Northern Ireland in the United Kingdom. What happens after December 31st? December 31st is the deadline for the end of the transition period of the UK leaving after Brexit. But what does that mean exactly? According to the BBC, one of the sure things is that the United Kingdom will drop out of all of the EU’s main trading agreements. Another is that UK goods would become more expensive to sell and export to the EU owing to the tariffs they’d then be forced to pay at borders along with substantial wait times due to border checks. In short, this could be total havoc to British manufacturers of everything, including CBD. Certain CBD products often raise suspicion due to their appearance and similarity to regular cannabis. This could add to distress and loss of earnings for many CBD businesses in the UK. What is a novel food? The Novel Foods Regulation was set up in 2018 to improve conditions for food businesses to import new and innovative food into the European market. A ‘novel food’ under EU guidelines is a food that not been…

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Source : What will happen to the CBD industry after Brexit?

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