GKIT - Hemp CBD May Be Reclassified As Diet Supplement
In a move designed to open the door to more market opportunities for hemp derived CBD, some lawmakers in Congress have asked for the U. S. House Agriculture Committee to require agriculture regulators to reclassify hemp CBD as a dietary supplement
Hemp CBD Dietary Supplement
The move is designed to allow hemp CBD to be marketed in dietary supplements. The move would provide processors and growers regulatory certainty. The proposed bill would also call for hemp CBD FDA dietary supplement reclassification.
The proposed legislation would represent a bi-partisan effort to help the hemp and CBD industries to proceed with marketing efforts. It asks for a USDA study on establishing and operating a hemp testing program. Costs and requirements for eliminating hemp crops outside of the legal limits are also included. The study would also examine the costs associated with adhering to required reporting.
Unregulated Marketplace
The goal is to force the FDA into regulating hemp CBD and give direction to growers and processors. The hemp CBD dietary supplement proposal is part of legislators’ way of having the FDA move quicker in regulating the legal CBD marketplace. Until now, legislators believe, the FDA has not acted after hosting what had been well received hearings last year.
The hemp CBD dietary supplement concept is part of an idea to move the process forward and give growers and processors and marketing regulation. The ultimate objective is to retain good products on the market and remove the bad ones.
Hemp CBD Production Pathway
Lawmakers want to see the FDA play a larger role in the marketplace, and want to see it sooner rather than later. Reclassifying hemp CBD as a dietary supplement is a first step in the regulatory process. The fact that this proposal has bi-lateral support signals that lawmakers on the Agriculture Committee are seeking to have hemp CBD sales enabled without requiring a doctor’s prescription.
Earlier farm bills were successful for hemp growers, but more regulatory certainty is required, legislators say. Hemp CBD dietary supplement reclassification would move the regulatory process further along and open marketing options for processors.
Hemp CBD Media Reports
All of this legislative activity has kept hemp CBD in the press. For example, stockmarketpress.com features coverage of stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC)), Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF), The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), OrganiGram Holdings Inc. (NASDAQ: OGI) and Canopy Growth Corp. (NYSE: CGC).
Source: Stock Market Press
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