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What Does Hemp Legalization Mean for Selling CBD

What Does Hemp Legalization Mean for Selling CBD

As 2018 drew to an end, the cannabis industry faced a seismic change: Congress had passed (and President Trump had signed) the 2018 Farm Bill, thereby legalizing hemp — defined as cannabis with less than 0.3 percent THC. Cannabis reporters’ inboxes filled up with statements from industry folk “celebrating” and “applauding” the federal government for removing industrial hemp from the list of federally controlled substances. They were mostly celebrating one thing: the cannabinoid CBD now had a path to mainstream legality. Despite hemp’s murky legal status before the Farm Bill, CBD has become a huge health-and-wellness trend, popping up in coffee shops, cocktail bars and health-food stores all over the country. The hemp-CBD industry ballooned to $590 million in 2018, according to Bethany Gomez, director of research for the Brightfield Group. Hemp farmers can earn $200 to $400 an acre if their crops are going into textiles, building materials and plastics. But crops heading towards CBD extraction can fetch thousands of dollars per acre, reported the Wall Street Journal. So what does hemp legalization mean for cannabinoids such as CBD being treated as a commodity? Unfortunately for some hemp operators, the Farm Bill wasn’t immediately the miracle legislation that they’d hoped for. After the bill’s passage, as the Department of Agriculture continues to craft the rules around hemp, business owners have seen their CBD products confiscated by U.S. Food and Drug Administration officials and their hemp shipments seized by law enforcement for crossing state lines. The FDA has insisted that…

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Source : cannabis now
Link to original : What Does Hemp Legalization Mean for Selling CBD
reposted by Cannabis News World

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