CBD products lead growth in hemp sector

Posted on August 1st, 2017 by Global Ganja Report and tagged , , , , , , , , , , , .

cannabis Hemp Business Journal reports that products infused with CBD oil are leading growth in hermp-derived products sold in the United States generally, which in 2016 had a collective retail value of $688 million. This figure represents a five year 22% compound annual growth rate (CAGR). Joining more traditional products such as shelled seed, protein powder, soaps and lotions, are growing lines of medicinal preparations such as CBD edibles. Hemp-derived cannabidiol (CBD) accounted for $130 million in sales last year.

Industrial hemp is legal to import, ship across state lines and process into other products, including CBD oils—as long as they contain less than 0.3% delta-9 tetrahydrocannabinol (THC). In a seeming contradiction in US policy, the Drug Enforcement Administration last year assigned a new "code" for CBD, asserting that it is covered by the Controlled Substances Act. Leafly reports that two hemp-related companies—RMH Holdings of Colorado and Centuria Natural Foods of Nevada—have joined with the Hemp Industries Association in a federal lawsuit against the DEA in California, seeking to overturn the agency's codification of CBD.

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