Monthly Extracts Newsletter

 

Edition 13 – May 2021
Cannabinoids Going Global
May 6, 2021 – 10 min read
 Author: Dave Neundorfer, CEO

With this Monthly Extracts, we will share perspective on global distribution and synthesize our learning from regional and country-specific dynamics. 

The US domestic CBD market is a helpful microcosm of the evolving global landscape. Companies are entering emerging markets on the heels of regulatory change, just as they dove into the US market in early 2019 following the passage of the 2018 Farm Bill. 

In 2019, OBX was one of the first companies to ship biomass coast-to-coast from California to North Carolina. Despite having all of the regulatory documents prepared–grower license, harvest approval letters, and pre and post harvest COAs–one of our five trucks was seized by highway patrol who were unfamiliar with the 2018 Farm Bill, let alone the difference between hemp and cannabis. 

Despite our rigorous preparation to ensure smooth sailing, Murphy’s law won the day. Our regulatory counsel spent her Saturday speaking with counsel for the Texas state police, walking through the paperwork and specifics of the 2018 Farm Bill to have our truck released. 

While our biomass ultimately made it to North Carolina, the shipment took twice as long, cost twice as much, and created a major distraction for our team. And then, the price of CBD compressed by up to 90% over the coming year.

With this Monthly Extracts, we will share perspective on global distribution and synthesize our learning from regional and country-specific dynamics. 

The US domestic CBD market is a helpful microcosm of the evolving global landscape. Companies are entering emerging markets on the heels of regulatory change, just as they dove into the US market in early 2019 following the passage of the 2018 Farm Bill. 

In 2019, OBX was one of the first companies to ship biomass coast-to-coast from California to North Carolina. Despite having all of the regulatory documents prepared–grower license, harvest approval letters, and pre and post harvest COAs–one of our five trucks was seized by highway patrol who were unfamiliar with the 2018 Farm Bill, let alone the difference between hemp and cannabis. 

Despite our rigorous preparation to ensure smooth sailing, Murphy’s law won the day. Our regulatory counsel spent her Saturday speaking with counsel for the Texas state police, walking through the paperwork and specifics of the 2018 Farm Bill to have our truck released. 

While our biomass ultimately made it to North Carolina, the shipment took twice as long, cost twice as much, and created a major distraction for our team. And then, the price of CBD compressed by up to 90% over the coming year.

Industry News & Education

Lord Jones brings CBD advertising to television and streaming

Lord Jones brings CBD advertising to TV & streaming services representing a huge development for the industry. The new campaign, which is the brand’s first TV and streaming launch, is called “A Higher Order.” The brand debuted two ads across over-the-too streaming platforms and channels including e!, VH1, CNN and HGTV. Risque ads include “Bathe in Relaxation” and features an Egyptian queen who fakes her own death to enjoy the experience of a Lord Jones CBD bath

CBD Pet Market

A New Study Finds CBD May Help Combat the Onset of Alzheimer’s

A study published in the Journal of Alzheimer’s Disease associated CBD with changes in brain chemistry that restore function of two proteins. Both proteins help the brain battle buildup of plaque that is associated with the onset of cognitive decline and dementia, including Alzheimer’s disease. Researchers from Augusta University in Georgia and the European Medical Association conducted the study.

Joe Rogan, Kill Cliff Launch CBD-Infused Beverage: ‘Relax And Pop Open A Flaming Joe’

According to information procured exclusively ahead of an official announcement, the product will be released in partnership with Kill Cliff, the clean energy drink company, and boasts a very unique taste Rogan and the company like to define as “spicy pineapple fusion.”

The Flaming Joe features 25mg of CBD, as well as B-vitamins, electrolytes, and plant extracts. Same as all other Kill Cliff drinks, the new product has no sugar or artificial ingredients.

CBD Pet Market

New Research From Syracuse University Shows Pain-Relieving Effects of CBD

As the first experimental pain trial to examine CBD, this study by a Syracuse study led by two researchers yielded consistent and noteworthy results. Among other findings, the data showed that CBD and expectancies for receiving CBD do not appear to reduce experimental pain intensity, but do make the pain feel less unpleasant.

cbdMD Announces Spring 2021 New Products Launch

Line Extension of cbdMD Gummies To Include: cbdMD Sleep Gummies, cbdMD Calming, Gummies, and cbdMD Apple Cider Vinegar Gummies.

cbdMD Also Announced Launch of Its First Ever cbdMD Drink Mixes To Include: cbdMD Energy Drink Mix, cbdMD Recovery Drink Mix, and More

German Government Now Funding Research Into CBD Extracts

The German government is now funding cannabis research on cannabinoid extractions and additives to food. It is even more interesting to understand that the federal government program behind this is no less than the Federal Ministry of Economics and Energy—which is as about as central to German economic investment in the future as you can get.

Regulatory News & Updates

CBD Pet Market

CBG gets safety approval for inclusion in EU cosmetics database

The European Commission has added cannabigerol (CBG) to the EU’s cosmetic ingredient database (Cosing), clearing the compound as safe for use in health & beauty products.

CBG works with the CB1 and CB2 endocannabinoid receptors, which are located in the skin. Proponents say the hemp-derived compound has anti-inflammatory, antibacterial, and antioxidant properties that help the endocannabinoid system maintain healthy skin function.

CBD Pet Market

More states banning delta-8 THC as regulators clarify its legality under federal law

At least five states have considered or are currently updating their laws to specifically govern delta-8 THC, joining at least 11 that already have laws on the books addressing the minor cannabinoid, which can produce psychoactive effects in some people, although they are considered to be less potent than the delta 9-THC common in marijuana.

CBD Pet Market

A new head honcho for CBD policy – but who will US FDA pick for this vital role?

Abernethy led the agency’s CBD working group, the task force formed to start the FDA down the path towards regulation of CBD products by initially identifying and filling in knowledge gaps around CBD; exploring its impact on public health; and consulting on potential pathways to market if it was deemed to be safe as an ingestible consumer product.

Her replacement will be a key figure for the future of CBD regulation in the US.

CBD Pet Market

New Senate request could hold Mexican legalisation back until at least September

As of mid-April, Mexico’s Senate is poised to request extra time to approve legislation that would legalise cannabis in the country, prolonging debate over the highly anticipated bill until September, Senate majority leader Ricardo Monreal said this week.

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