It’s a new week and we’ve got a BIG roundup of headlines making the news regarding CBD. Cannabidiol was removed from the World Anti-Doping Agency banned substance list and more in this week’s big news! As always, the title to each story links to the original news outlet and you can read an overview of the 10 headlines below.
Bone Broth infused with CBD has been voluntarily recalled by Simmering Bone, the Vermont company that made them. The violation and recall involves labeling and adulteration of the product, according to the agency.
According to the Vermont Agency of Agriculture, Food and Markets, four jars of broth were sold at the Vermont Hemp Fest in Burke, Vermont on September 9, according to Rachel Collier, who made the broth and owns the Simmering Bone.
The broth was made at the Mad River Food Hub in Waitsfield, where the product was inspected and labeled by the USDA. Collier then added the CBD in her home kitchen in Essex, she said, re-sealed the jars and reattached the USDA label. She said she was unaware this was a violation of USDA regulations.
Source: Seven Days
A recent research report published by Hemp Business Journal and Vote Hemp identify that the U.S. hemp retail market and projected to grow at a five year 22% CAGR. Lead by CBD products, Hemp Food, and Body Care, the report estimates that the total retail value of hemp products sold in the U.S. in 2016 was $688 million. The industry is projected to grow to $1.8 billion in sales by 2020. Several categories of products such as shelled seed, protein powder, soaps and lotions have continued to show growing sales as well.
Source: Financial Buzz
The Indiana Excise Police, the arm of the state’s Alcohol and Tobacco Commission law enforcement division, has now twice cited stores selling CBD products. This is a stark contrast to their statement in August that they would back off of this practice according to a report from the Indianapolis Star.
At the time of the initial report commission officials said they would no longer confiscate CBD products from stores unless they “clearly violate” state law. On August 14th, just two days after police made the announcement, a retailer in Lake County was given a violation notice for products seized in January. The following month, an Indianapolis gas station was issued a warning about its “Kush Cakes” which are made with “hemp protein.”
The World Anti-Doping Agency (WADA) has announced the removal of Cannabidiol from its list of banned substances starting in 2018. WADA governs the drug testing in the Olympics and is also known as the industry leader setting the the standard for anti-doping guidelines in many sports leagues, like the Ultimate Fighting Championship (UFC) and others around the world.
Starting next year under the United States Anti-Doping Agency (USADA) and UFC rules CBD will be allowed, while synthetic cannabis and cannabis products rich in psychoactive THC will remain banned.
Kentucky is proud of it’s farmers, especially their hemp farmers. From politicians including both GOP lawmakers and libertarians along with environmentalists and entrepreneurs, this eclectic coalition is coming together to promote the virtues of hemp.
While Kentucky hemp production is still only a fraction of the state’s agricultural economy, the amount of land being used for hemp farming and hemp fields tripled in 2017 from 2016. The yields increased over 50% as well. Kentucky is the nation’s fifth-poorest state and one where the opiate epidemic is rampant. The effort by lawmakers and the agriculture department to convert old tobacco farms to hemp production offers an economic ray of sunshine.
EVIO Labs, a leading provider of cannabis analytical testing services, has announced their entry into the hemp testing market. The company is now prepared to offer accredited testing services to Oregon’s industrial hemp sector.
The state currently has 233 actively licensed industrial hemp growers operating within the Oregon state lines. All of these growers will require testing prior to harvest to ensure their hemp is qualified for sale.
Will Pharmaceutical Firm’s Boon Be The Hemp Industry’s Doom in the Race for CBD Medication Breakthrough
London-based GW Pharmaceuticals plc is steering its proprietary Epidiolex oral solution through the U.S. Food and Drug Administration’s approval pipeline. Their investigational drug hailed as a breakthrough in the science of cannabidiol could be prescribed to children suffering from treatment-resistance. The prospect of its success, however, has caused some unease in the American hemp industry.
Source: The Denver Post
Kentucky Congressman and Wisconsin Farm Bureau President Speak Out On Value Of Hemp Legalization In Wisconsin
It’s not every day a congressman from Kentucky and a farmer from Wisconsin ignite a national conversation on a specific issue. However, when it comes to industrial hemp, no two states are more historically intertwined.
U.S. Rep. James Comer represents Kentucky’s 1st Congressional District and is the primary author of the Industrial Hemp Farming Act of 2017. Jim Holte, a grain and beef farmer from Elk Mound, is president of the Wisconsin Farm Bureau Federation. Together the two outline the benefits and need for hemp farming and legalization in the state of Wisconsin.
Source: Manitowoc Herald Times Reporter
While Vermont lawmakers argue over marijuana legalization, Middlebury dairy farmers Joel Pomainville and Sam Berthiaume are harvesting hemp as they hope hemp could be a new cash crop for Vermont farmers. Secretary of Agriculture Anson Tebbetts, who toured Pomainville and Berthiaume’s 13 acres of hemp recently, said hemp could be a supplement crop for Vermont’s dairy farmers, like maple syrup.
“Some dairy farms have another cash crop like maple syrup and it adds a little bit of extra income for them,” he said. “So I’m wondering if possibly dairy farmers or other landowners could squirrel away a couple of dozen acres and be involved in this.”
Interest in growing hemp has accelerated amongst Vermont farmers. In 2014, nine farmers registered their intent to plant a total of 17 acres. This year, 91 farmers registered the intent to plant 562 acres, according to Tim Schmalz, who heads the Vermont Agency of Agriculture, Food and Markets’ hemp program.
Source: Addison County Independent