Colorado and Illinois are joining the ranks of nearly a dozen states where CBD and other hemp-derived products can be sold at marijuana dispensaries for the first time, opening a new sales outlet for the growing industry.
In the absence of guidance from the U.S. Food and Drug Administration, states are taking their own approaches as to how to regulate the sale of hemp in medical and recreational dispensaries. Colorado’s change takes effect July 1.
“I think it’s positive for the CBD industry, because the market is struggling right now,” said Shawn Hauser, a partner at the Vicente Sederberg law firm, which specializes in cannabis.
“It’s starting its lifetime in an economic and health crisis. So I think having another outlet in which it can sell its products is positive for the hemp market and the supply chain.”
The change opens a new sales avenue for hemp producers, and gives marijuana operators some new competition.
“It’s a sticky issues for marijuana and hemp businesses because they’re competing for the same business,” Hauser said.
According to the most recent Hemp & CBD Factbook, some 10% of total CBD product sales in 2018, the most recent year with available data, went through recreational marijuana stores, many of which were selling marijuana-derived CBD. Many of those stores – including dispensaries in California, Colorado and Washington state – did not allow the sale of hemp-derived CBD.
But at least 10 states have allowed the sale of hemp-derived products in marijuana dispensaries since the passage of the 2018 Farm Bill, said Hauser. Other states making the change in the past few months include:
Published: June 14, 2020
The post More US states allowing sales of hemp-derived products in MJ dispensaries for first time appeared first on L.A. Cannabis News.
Credit: Source link
