FDA Hearing and the future of the CBD industry
Cannabis and products derived from cannabis have been used to manufacture more than 25,000 consumer goods in a large number of industries, including automobile parts and goods, cosmetics, textiles, food, and beverages, etc.
For a long time, marijuana and hemp were considered as controlled substances. They were classed as abuse worthy drugs right alongside LSD and cocaine. Because of this exact reason, there were a lot of hindrances to scientific researchers as well as to industries because there were borderline rules about the use of marijuana and hemp as far as their usage was concerned.
After being elected, President Donald Trump, signed the Farm Bill 2018, the position of Hemp was slightly changed because of its legalization in all of the states. This is the main reason as to why there has been a significant increase in investors’ interest in the cannabis industry.
The Farm Bill 2018
The industry of the US is going through somewhat of a revolution as far as hemp is concerned. This is because of its legalization in all of the states by the Trump Administration. According to the Farm Bill 2018, the medicinal use of marijuana has been legalized, and Hemp has been removed from the list of controlled substances.
After the Farm Bill 2018 was signed by President Trump and hemp or marijuana was legalized, the pen stroke initiated a countrywide industrial revolution because this has opened up a gateway to amazing opportunities for the new investors as well as for research purposes.
The incentives to the farmers
The legalization of hemp and removed from the list of controlled substances has another perk in that a lot of farmers are transferring to hemp farming because it is more beneficial as compared to the farming of other industrial crops like tobacco. Furthermore, because of its legalization, a lot of legal stress has been taken off of the farmers, and they are now able to enjoy the same perks as the farmers of other crops. They now have the ability to demand insurance as well as grants from the government.
The plusses to the scientists
Marijuana and hemp had been classed as illegal for the longest time, and this acted as deterrence in their researches, but after the legalization of hemp, the path to more research was more or less paved. Because of this, it is now possible to look deeper into the various advantages that we can get from the various compounds derived from hemp. They can be used to treat inflammations, make medicines to relieve the pain of chemotherapy, decrease infection, and so many more medical processes.
What is CBD?
Because of the legalization of hemp, there has been a lot of pondering as to how the various compounds derived from hemp can be useful for humans. One such compound is CBD, which is a shortened form for cannabidiol.
CBD is derived not just from hemp but from marijuana leaves too. Because of the legalization of hemp, the CBD derived from hemp has also been legalized. It is a non-psycho-active compound present in cannabis leaves, and its primary use is to relax and ease the body – without altering or in any way harming the mind. It is extremely different from the copious amount of tetrahydrocannabinol or THC.
THC is the major psychoactive compound present in marijuana, and that is responsible for the induction of the “high” that people attain from smoking hash or marijuana.
CBD however, is extremely useful in many ways. A large number of compounds present in oils derived from cannabis are relaxing and anti-neurotic. A lot of these compounds are used in the production of anti-anxiety pills and tablets, and for this reason, the compounds derived from cannabis are important in the medicinal industry.
CBD is one of these compounds, and it is therefore extremely important. With its extensive uses and hemp legalization, there was a dire need of new rules and regulations to be set out by the FDA.
The immediate response by the FDA
There was obviously the need of an immediate decision by the FDA after the legalization of hemp according to the 2018 Farm Bill, and the FDA legalized the use of CBD derived from hemp but prevented it to be used in food and beverages.
This causes somewhat of havoc among the various food outlets of many states of the US because they had to remove all of the things from the menu that had CBD. Crackdowns were being carried out by the FDA to make sure that there were no outlets still selling food infused with hemp derived CBD.
However, because of the legalization of hemp, there was obviously in need of a proper trial and the setting up of new rules and regulations. Many cannabis stocks were not venturing into the US because of the incongruity of the rules there related to hemp.
The Recent Hearing
There was a recent hearing that continued throughout an entire day with more than 50 speakers that discussed all of the concerns that the FDA might have against CBD as well as all of the advantages that CBD can have for humans.
After the legalization of hemp, the response was almost overnight. There were farmers who were transferring to hemp farming, companies springing up overnight, and a world of industries sprouting around CBD.
It was being introduced into beverages and foodstuff as well. After its legalization, CBD has been extensively used in the US even though it needs to be properly regulated. During the hearing, everything from the beneficial effects of CBD to the potential harms it was discussed. There are future hearings to be expected.
The effects the trial could have
In the trials, the future effects were discussed. If the FDA keeps restricting the use of CBD in beverages and food items, many businesses that are currently running will shut down. Moreover, if there is not complete legalization of hemp and the decision is backtracked on, it could have dire consequences on the farmers that are currently farming hemp. For the farming community, it would be nothing short of a disaster.
Although the Farm Bill 2018 has legalized hemp, the FDA needs to come up with a plausible decision soon so that the people can be put to ease. The majority of the people believe that hemp should be kept in the hands of the people like any other herb because it is a naturally occurring compound. Other people believe it to be dangerous and potentially addictive.