PThe U.S. House of Representatives very successfully passed the H.R. 2, Agriculture and Nutrition Act of 2018 also known as the Farm Bill. The bill was passed with a vote of 369-47. It can be defined as the clearing one of the final obstacle for the bill to become a law. It gives a new lease of hope for cbd oil companies.
The compromise bill was made final earlier and sailed through the Senate by a vote of 87-13. Farm Bill was passed under the supervision of the Senate Agriculture Committee Chairman Pat Roberts, Ranking Member Debbie Stabenow , House Agriculture Committee Chairman Mike Conaway and Ranking Member Collin Peterson.
The Farm bill shows win for independent grocers and industry players, associations which are are celebrating the passage of the bill. So for hemp , medical marijuana business it is a start of many opportunities. CBD oil industries are in good position after legalising of hemp. Till recent times the hemp was produced entirely for industrial uses like manufacturing. That is why the hemp plants today have very low amounts of THC which is the psychoactive chemical responsible for marijuana’s high.
Marijuana derived CBD is found to be an active ingredient in Epidiolex which is a syrup that is also the first cannabis-based drug to have gained the approval of US government for medical use. This drug is used in the treatment of two rare forms of childhood epilepsy.
The Farm Bill 2018, which legalises hemp, medical marijuana takes a hold of technology in order to serve every customer shopping in the member grocery stores. With the passage of the bill we can notice modernisation in the EBT or electronic benefit transfer systems. It protects the retailers from not so fair predatory interchange as well as processing fees.
FMI is happy with the passage of Farm Bill as it encourages attractive and unique proposals from the retailers who would like to offer incentives to SNAP customers so that they buy more vegetables, fresh fruits, milk and whole grains, also authorising permanently ; the Food Insecurity Nutrition Incentive program.
The popular and much awaited Farm Bill is years of work and partnership with Agriculture Committee members and their efficient staff , ensuring program integrity and technological advancement in SNAP.
The Farm Bill removes hemp/ medical marijuana from the Controlled Substances Act thus allowing farmers to pursue the federal hemp cultivation permit. So while the individual states can regulate the industry within their borders , as many as 40 states have already established hemp cultivation for industrial as well as for commercial purposes, in spite of the the plant being strictly regulated.
So we can now see that hemp/medical marijuana is set to be treated as an agricultural product. The U.S. FDA/state departments of agriculture would offer an oversight of the plant’s cultivation which is much needed for cbd oil. And according to industry observers they eagerly welcome and seek guidance on the hemp-derived CBD oil.