17 July 2020
The news that the EC may reclassify CBD as a narcotic is a crushing blow to the European hemp sector and will severely limit the EU market. In direct contrast the UK market, which falls under the auspices of the FSA, will not suffer the same fate, and looks set to forge ahead.
The FSA have categorically stated, in line with national government legislation, that CBD in the UK is NOT a narcotic.
The UK has always been at forefront of the CBD market. Whilst we sympathise with the outdated and imprudent bureaucracy surrounding our European counterparts, this presents significant opportunities for CTA members and British businesses trading in the hemp sector.