Its best-known product, CBD, is a $2 billion industry: Its medical applications are booming; food products also promise to be huge. Given that threshold, legal hemp has wide support, even from no less a conservative than Senator Mitch McConnell, R-Ken. “Hemp farmers developed a false sense of security, given the high pre-[Farm Bill] wholesale prices,” the report says. · The FDA’s still-unfished regulations for foods and beverages have prompted a nerve-racking wait-and-see game for an industry – hemp – from which fully 25,000 products are derived. Clarification of the FDA’s position on CBD is especially needed to shore up the industry’s uncertain future, the Whitney report says.

Source: Forbes December 24, 2020 22:30 UTC