Sunday, 24 March, 2019

Does the Farm Bill Legalize CBD, Too? Not Exactly

Tom Williams  CQ Roll Call  Newscom Tom Williams CQ Roll Call NewscomTime's up for lawmakers who count on taxpayers to pay for their bad behavior
Lloyd Bates | 15 December, 2018, 06:13

A massive, multi-year farm bill headed to President Trump's desk contains provisions that could benefit Maine's growing agricultural sector, including increased federal funding for research and grant programs used locally. The legislation passed the Senate 87-13 Tuesday and the House 369-47 on Wednesday. "This bill will also help clarify that resin products derived from hemp, like cannabinoids, will be legal on a federal level".

Trump has 10 days to sign or veto the $867 billion bill; his signature is considered nearly certain as Congress scrambles to finish its work before this session ends December 21.

Individual states can also make and enforce rules banning hemp or CBD even though it's no longer considered a controlled substance - another wild card. Village Farms is also working with other parties to have hemp removed from the controlled substance lists of other USA states to enable the Company to pursue opportunities outside Texas.

Estimates show the federal legalization could triple the overall hemp market to $2.5 billion by 2022, with $1.3 billion of those sales from CBD products. "Roger has been a strong advocate and critical voice for production agriculture in this farm bill conference process and I'm thankful for his leadership, which helped get this across the finish line", Conaway said.

With that signature, hemp will become legal nationwide. "But you add to that the importance of conservation programs, which land owners, farm owners and ranchers have the chance to enhance the quality of the air, the water and the soil". "We did it with broad, bipartisan support and by building on the strengths of both the Senate and House versions", Hoeven said in a statement.

Industry frustrated by late warning on 'no deal' Brexit disruption
Meanwhile, the EU's Brexit negotiator Michel Barnier has insisted that the agreement with Theresa May is the only deal on offer. It is meant to ensure there is no return to a hard border between British-ruled Northern Ireland and EU-member Ireland.

Massive Marriott data breach traced to Chinese hackers
The United States is also seeking the extradition of the chief financial officer of Chinese tech giant Huawei . The Trump administration has been working with Chinese officials to negotiate an end to the trade war.

Canada, US show no signs of releasing Huawei CFO Meng Wanzhou
Reuters later reported that Skycom had much closer ties to Huawei and Meng than previously known. Meng also said she was taken to a hospital for treatment for hypertension after being detained.

"Moreover, our deep experience, extensive relationships, and flawless agricultural product safety record as a vertically integrated grower serving most major food retailers in the US and Canada provide an exceptional foundation to enable Village Farms to play a leading role in the birth and development of this industry". Village Farms will pursue hemp and CBD opportunities with strict adherence to applicable laws. The federal government heavily regulates and restricts commercial use of hemp because of its relation to cannabis.

Vitality, based in Eureka, Montana, is a large US hemp producer and grew 20,000 acres this year. That's notable for several reasons, none more so than the provision which would legalize hemp production. The nutrition section of the farm bill, which includes SNAP, accounts for about 80 percent of the bill's cost.

"Most states are going to have to go back to the drawing board and catch up", said Joy Beckerman, president of the Hemp Industries Association, an industry lobby group.

And with a federally legal industrial hemp industry across the USA, the passage of the Farm Bill could also represent a step toward the federal legalization of marijuana, according to Dan Anglin, DEO of CannAmerica. The Delta, B.C. -based company entered the cannabis industry in 2017 through a partnership with licensed producer Emerald Health Therapeutics Inc.

"They're all made possible because of the funding that the farm bill would provide", she said. Under the state's research program, fields with plants that have tested too high are destroyed.

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