It's Official - Hemp Legalization Makes the Cut in Final Farm Bill Agreement NegotiationsThu, 29 Nov 2018 13:03:25 CST
On Thursday morning, lawmakers in the Senate and House Agriculture Committees announced that they had reached an agreement in principle on the large-scale food and agriculture policy legislation also known as the Farm Bill. It has been confirmed that the much talked about hemp language made the cut. Hemp would be defined as all parts of the plant-including seeds and extracts-as long as they contain less than 0.3 percent THC. The cannabis industry says that this will big proponent to the CBD market.
If passed, the crop would be entirely removed from the Controlled Substances Act under the legislation. The Congressional Budget Office is currently scoring the bill. Once that’s complete and language is officially filed, the Farm Bill will be teed up for up-or-down votes in both chambers of Congress and, pending approval, sent to the president’s desk.
Paul Rosen, the CEO of Tidal Royalty and one of the original pioneers of the CBD and cannabis industries says the bill “Would open the door for CBD-based products at a national level, helping a wider segment of the population experience firsthand the benefits of cannabis-derived products. It would also allow the use of hemp as an input in many more products (as legalization should reduce prices)." he adds "From the CBD perspective, legalization would open the door for corporate farming (big agriculture) to quickly dominate the cultivation and manufacturing of CBD inputs. This should bring down effective pricing. We see the value in the industry accruing to the brands that can utilize CBD inputs to create compelling products that consumers want."
Source - Tidal Royalty
WebReadyTM Powered by WireReady® NSI
Top Agricultural News