USDA issued guidelines last month. The state of Colorado will soon submit its custom state regulatory plan (which the Colorado Hemp Advancement and Management Program [CHAMP] committee, which Fat Pig has served on, has worked to develop). Once guidelines are approved, Colorado becomes an approved state of origin and all the benefits of the Farm Bill become available. We estimate that beginning in fall of 2020 all hemp dealings will become legitimate. E.g. shipping across state lines, obtaining loans, etc.
CBD market globally continues to grow. Existing CBD market is well over $1B. The global market is estimated to become $22B by 2022. It is the highest value per acre crop in the U.S. by far. https://www.marketwatch.com/story/cbd-market-expected-to-reach-22-billion-2019-05-23 Market info is available to show extent of market projections. https://panxchange.com/october-2019-hemp-market-update/
Sourcing is becoming increasingly important to consumers, and Colorado is known to have the most robust hemp development so far. Hemp from Colorado is going to be of increasing market value. Consumer Reports’ article “How to Shop for CBD” (dated 9/27/18) says, “…For CBD products from hemp, check labels to see whether they say where it was grown, and look especially for those from Colorado.” https://www.consumerreports.org/cbd/how-to-shop-for-cbd/
We are confident FDA regulations once released will classify hemp as an agricultural product and that the CBD contents will not be distinctly regulated.
The organic CBD market is poised for enormous growth. We think the market will go predominately organic. Organic will dominate as consumers learn that hemp is a bioremediatory that pulls toxins out of the soil. The first hemp law in Colorado in modern times was passed to investigate hemp’s phytoremediation potential. https://www.votehemp.com/wp-content/uploads/2018/09/CO_HB12-1099_2012_enr.pdf The results of that research found, indeed, hemp draws toxins up from the soil extremely well. The implication is grave: non-organic CBD may be a real risk to consumers, as the toxins mixed with the CBD compromise its use as a medicine. As consumers become more aware of these risks, the market for organic CBD will increase. We will promote this information to consumers and to the general public so they become aware of the importance of preferring organic CBD. If it is not Organic, don’t eat it.
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