Hemp Industry News: Oct 5
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BUSINESS
Hong Kong Opens CBD Cafe
Hong Kong introduces Asia’s first CBD Cafe. THC has to be completely undetectable in all offerings; coffee, beer, juice, oils, butter, powders, pet products and a full cafe menu. CBD is not a controlled cannabinoid in Hong Kong, making the cafe compliant and “progressive.” Read more and dream about traveling and diversifying. .
LEGISLATION
Congress Passes USDA Compliance Delay
Congress passed a year-long delay for States to receive USDA hemp plan approval. The 30 States without an approved plan, “will have more certainty.” Regulations being considered include: THC testing window, DEA lab testing, and hot hemp processing. Additionally, final rules are still developing with the DEA and FDA, with the comment period still open. Read more as these regulations continue to develop.
FARMING
Smoke Tainted Hemp
How to discern the value of smoke tainted hemp? OSU Professor Jay Noller announced a team will be studying wildfire smoke’s effect on hemp crops. Noller says, “our best estimate is to follow the wine industry.” Results of the one million burned acres in Oregon will continue to develop. Read More Hemp Industry News
INTERNATIONAL
Alibaba Launches Chinese CBD Retail
CBD skincare will now be available for 1.4 Billion Chinese consumers. Nordic Oil, a European CBD producer partnered with Alibaba’s Tmall to launch the first CBD e-commerce store. The intent is to build CBDdemand for “China, the world’s largest skincare market, representing nearly 20% of worldwide skincare purchases.” Read More about this radical first mover.
CONSUMER MARKET
CBN Forbes Official
CBN receives Forbes insomniac approval. “Sleep is the third-highest need state” from CBD users surveys. This market segment will continue to increase as consumer awareness doubles each quarter. CBN delivers consistent sleep aid results and provides an excellent outlet for aging hemp inventory. Read more to sleep more.
