“CBD oil is a big thing. There’s a lot of products we utilize for hemp but we can’t grow it here. We can’t manufacture it and utilize American-grown products, so the farm bill changes that,” said Andrew Walmsley, director of congressional relations for the American Farm Bureau Federation to The Hill earlier this week. The outlet further explains why Walmsley felt the provision was crucial to the legislation:
He said inclusion [sic] of the provision helped set the stage for expanding the hemp industry amid rising demand for cannabidiol (CBD) oil, which has become increasingly popular for treating common ailments like pain without the mind-altering effects of marijuana and certain pharmaceutical drugs.
The farm bill legislation includes a clause which removes hemp from being a ‘Schedule I’ drug under the Controlled Substances Act. The legalization of the production of hemp has been arguably the most well-received aspect of the farm bill as researchers will now have the ability to study the plant. Jeff Stein of the Washington Post reports on a believed upcoming boom for hemp sells, “analysts believe hemp could grow into a $20 billion industry by 2022.”
GrizzlyRock Value Partners returned 30 percent in the fourth quarter; Here are their favorite stocks
GrizzlyRock Value Partners returned 30.31% net for the fourth quarter, bringing its full-year return to 7.57% net. During the fourth quarter, longs added 42.8%, while shorts detracted 10.3%. Q4 2020 hedge fund letters, conferences and more In his annual letter to investors, which was reviewed by ValueWalk, managing partner Kyle Mowery noted that 2020 was Read More
The Benefits Of CBD Oil
“All CBDMedic products are produced in conformance with Food and Drug Administration requirements and registered as OTC nonprescription topical analgesics,” Perry Antelman CEO Abacus Health Products told Drug Store News regarding the companies CBDMedic brand. In addition, the CBD derived from industrial hemp used in all CBDMedic products is 100% federally legal, because it complies with applicable federal laws. Menthol and camphor are the active pain-relief ingredients in our products, and no medical claims are attributed to the CBD/hemp extract. Our attorney in these matters is a former associate chief counsel at the FDA (Food and Drug Administration), so the guidance we receive is grounded in FDA regulations,” Antelman would continue.
Due to their FDA registration, CBDMedic can make legal claims concerning temporary pain relief which comes to athletes for pain associated with exercise, back/neck pain associated with bad posture, and the involuntary pain associated with those suffering from arthritis.
Antelman went into further detail when asked how retailers should look for and approach products with CBD when speaking to Drug Store News:
It’s important for retailers to select CBD/hemp-infused products where: A) the CBD is derived from hemp plants grown in conformance with USDA requirements — no more than 0.3% THC; B) the CBD is produced in facilities with audited quality systems to ensure consistent product quality from batch to batch; C) manufacturers can make legal claims on its label so customers understand the products’ intended benefits, and can logically be placed in a store location where customers expect to find solutions for their specific needs, such as the external analgesics section; and D) if the product is making medical claims, such as “muscle and joint pain relief,” it must be FDA registered to be sold legally.
Other Affects Of The Farm Bill On CBD
“The 2018 Farm Bill is more expansive. It allows hemp cultivation broadly, not simply pilot programs for studying market interest in hemp-derived products. It explicitly allows the transfer of hemp-derived products across state lines for commercial or other purposes. It also puts no restrictions on the sale, transport, or possession of hemp-derived products, so long as those items are produced in a manner consistent with the law,” the Brookings Institution said of the new legislation.
This allows consumers seeking pain relief a safe outlet rather than relying on opioids which have resulted in tens of thousands of deaths across the United States. CBDMedic is adamant their products will not show up on a drug test stating on their site, “No! Our hemp extract is a non-psychoactive and THC-free extract known as Cannabis sativa L that is derived from the hemp plant. This will not get you high, and you will not fail a THC drug test.