State Regulation Of Hemp-Derived Cannabinoids Production, Sales? New York Proposes A Model
New York proposal for packaging and testing hemp-derived cannabinoids could be ‘de facto’ standard for other stat, say attorneys tracking the patchwork of state laws. The proposal sets per-product concentration limits and includes licensing fees for processors and retailers.
You may also be interested in...
State Senate scheduled to vote on bill on 8 September and Assembly later in week. Floor votes prompted by amendment removing language that banned hemp smokables in the state, replaced by a phase-in approach.
“Irrational exuberance was an understatement for what people thought of the CBD market in 2018 and 2019,” says an attorney specializing in hemp regulations. In 2019, CBD isolate could be sold for “upwards of $12,000 a kilogram,” but price now is less than $1,000.
Legislation some states have passed is unclear and sometimes conflicts with state enforcement agencies’ policies, attorneys commented during recent FDLI conference. In states without a law, many marketers incorrectly assume sales of hemp-derived CBD in those states are legal under the 2018 farm bill.