FDA Inaction Concerning CBD Is Devastating the Hemp Market - Nothingbuthemp
Industry experts cite the agency's refusal to establish regulatory guidelines for CBD as the leading cause for the sharp decrease in hemp cultivation and product manufacturing.
According to a new study released by the U.S. Dept. of Agriculture (USDA), all is not well in the world of hemp. As first reported by Marijuana Moment, the USDA's National Hemp Report shows substantial decreases in the value and cultivation of hemp across every measurable metric analyzed for 2022.
This lack of action on the part of the FDA has placed hemp growers in a highly tenuous position. With no FDA-approved way to legally market CBD as a dietary supplement, farmers cultivating the crop for its flower have been trapped in economic limbo, unable to maximize their profits from the massively popular and lucrative plant component.
According to the report, farmers only grew 28,314 acres of industrial hemp in 2022, a decline of nearly 50% from the previous year. As a result, "the value of hemp production in the open and under protection for the United States totaled $238 million, down 71 percent from 2021." In addition, floral hemp production dropped by 66%, grain hemp decreased by 44%, fiber hemp fell by 34%, seed hemp plummeted by 92% and hemp clones/transplants declined by 94%.
Advocates and stakeholders from the hemp industry have warned lawmakers and the FDA about this eventuality for some time. In an email blast, Jonathan Miller, general counsel for the U.S. Hemp Roundtable, said that the report "makes clear what has been evident in the industry for years: The economic opportunity for U.S. farmers continues to decline, with the chief culprit being FDA's inaction on regulating hemp extracts such as CBD."
"(The report) makes clear what has been evident in the industry for years: The economic opportunity for U.S. farmers continues to decline, with the chief culprit being FDA's inaction on regulating hemp extracts such as CBD."
- Jonathan Miller, General Counsel for the U.S. Hemp Roundtable
The FDA's lack of action concerning its responsibility to monitor and regulate the almost $6 billion CBD market in the United States has caught the eye and ire of Congressional leaders.
Rep. James Comer (R-KY), chair of the House Oversight and Accountability Committee, is one of those lawmakers. He and a growing number of his colleagues are concerned with more than just the economic health of the hemp industry.
"FDA's claim of a lack of a regulatory pathway is not only an insufficient rationale for inaction, but it is directly affecting the welfare of the American public. The lack of regulation of non-intoxicating CBD products has allowed for potentially dangerous products to enter the market in the form of delta-8 and other hemp-derived intoxicants, leading to increasing concern that some products contain potentially dangerous ingredients due to the lack of regulation."
- Rep. James Comer (R-KY), Chair, House Oversight and Accountability Committee
Right on cue, Congressional Reps. Morgan Griffith (R-VA) and Angie Craig (D-MN) recently filed a bipartisan bill to create that pathway the agency requested to regulate CBD and other non-intoxicating hemp derivatives as dietary supplements and food and beverage additives. Now, it’s up to Congress to do its job.
Comments
Post a Comment