You heard it here first! “Direct CBD Online’s Quick Hits” is now the “CBD News”. Every month we give you a month worth of hemp news in an easy-to-read blog. Stay on top of it with our September CBD News edition!
CBN is becoming a star cannabinoid on the market with more than $465million in the past four quarters just for California, Colorado, Nevada, and Oregon. And the demand is only increasing. And the supply sure is rising to the occasion, with only 11 CBN products in those states last year and 55 products now, most of which are edibles.
While the research about CBN is still sparse about its sedative effects, users have been reporting its benefits as a sleep aid for decades. For this very reason, there is no stopping the market from expanding and people from buying it.
The only obstacle to CBN’s growth is its extraction process that can be long and costly. Many companies are working to speed up the process but also purify the cannabinoid to provide a consistent isolate for product manufacturers.
Hemp is not only a potentially good time when consumed as a dietary supplement. Its fiber is also a great resource for clothing, and more recently as a plastic alternative. The national enthusiasm for the potential of hemp in fighting pollution and climate change seems to have been limited to the private sector until now. The US Department of Energy recently sponsored Tommy Gibbons, COO of Ketchum, Idaho-based Hempitecture for research and development on hemp insulation through the Energy Department’s Innovation Crossroads program for startups.
USDA is investing in the Hemp industry
The government agency is planning to send an acreage and production survey in October. This is the first step toward to regulating hemp products. The USDA’s survey will provide data about the hemp industry – including the value of hemp in the United States – to assist producers, regulatory agencies, state governments, processors and industry members in making decisions about the crop.
In a similar effort to improve and audit the quality of hemp on the market, the agency announced that producers can now apply for help covering the cost of applying for certification under the USDA’s National Organic Program through the Organic Certification Cost Share Program.
The FDA announced in a letter that full-spectrum CBD would not be approved for sale as a dietary supplement. The decision was justified by a lack of data on the safety and efficacy of CBD and their consideration of CBD as a pharmaceutical drug that should, in their opinion, not be available over the counter.
With that being said, the FDA’s decision will not impact current consumers’ ability to purchase CBD without prescription, as the FDA does not have any legislative or executive power.
As we expected, 2021 is looking up! But if you find yourself wanting more after the September CBD news, consider looking into our past Direct CBD Online News articles right here.