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Hemp farmers, CBD distributors, sellers, users, and all of us at My Natural CBD have rejoiced over the 2018 Hemp Farm Bill that was passed in December. The new legislation is a landmark move that could soon see the legalization of hemp for good. This has a number of implications and impacts across the hemp and CDB industry, including our products at My Natural CBD. The new legislation has legalized hemp for the first time in over 50 years. This means that those in the hemp business can grow and not have to worry about intervention from federal agencies.
Ever since the 2014 Farm Bill, hemp was in a semi-legal classification with some of its use being dependent on state laws and compliance to those laws. This left many help businesses quite vulnerable to threats from illegal raids, no agricultural protection, like crop insurance, and threats from federal agencies. This made it difficult for businesses selling hemp derived CBD oils.
The legal status of hemp in the US has had a long-standing amount of confusion in the industry, and for years the 2014 Farm Bill has been misinterpreted. This led many to believe that hemp was illegal. The 2018 Hemp Farm Bill changes all of that.
What Is The Farm Bill?
To understand the 2018 Farm Bill and its effects on the hemp industry as a whole, we need to look at the farm bill, or Agricultural Act, of 2014, primarily section 7606 of this bill. This section gave the authorization to pilot programs in agriculture that allowed the study of growing, cultivating, and marketing industrial hemp on a state by state basis.
Young hemp businesses were finally allowed to use bolder marketing and business tactics. The Farm Bill gets reviewed every 5 years to set new budget plans for nutritional programs and assistance. While the 2014 Farm Bill eased some of the hemp regulations, it was still hard for CBD companies to follow any real guidelines due to many of them being left to interpretation.
What Makes the 2018 Farm Bill So Important for the Hemp Industry?
The biggest change was moving hemp out of the federal definition of marijuana. It defines the difference between hemp, CDB, and marijuana. While both hemp and marijuana are derived from the same plant, hemp has insufficient amounts of THC to produce that high that you get with marijuana.
Hemp is used for much more than hemp derived CBD, like the products My Natural CBD sells. It has been used in food, apparel, beauty products, and building materials. It's a plant that can be grown in any type of soil, anywhere in the world. It also works to purify soil and kill some weed types. It's a high yielding crop, with just 1 acre of hemp being able to produce 50% more oil than you would get from an acre of peanuts. It's a really beneficial crop!
The majority of hemp sales was imported from Canada and China, with 2015 showing nearly $78.2 million in hemp imports. With farmers now able to grow hemp in the USA, and use it as an agricultural commodity, it brings more business and jobs back to the USA and allows them to join the exportation of hemp, making it a financial boon for the industry.
A Bit of Hemp Prohibition History
Hemp has a long history of prohibition that dates back to 1906! It was believed that William Randolph Hurst, a publisher of a newspaper, began a campaign to smear hemp. Many felt he did this because he had quite an extensive number of timber holdings and hemp threatened this. He used his paper to print “facts” about hemp that were false and misled many into believing that hemp was the same thing as marijuana. Of course, today we now know this is not the case.
It was a government official, Harry Anslinger, who led the hemp and cannabis prohibition charge. He was the first commissioner of the Federal Bureau of Narcotics and a big supporter of the criminalization and prohibition of drugs.
One of the first steps made to crack down on hemp plants was made in America with the 1937 Marijuana Tax Act, but this was later repealed in 1969. A year later saw the passing of the Controlled Substances Act, which replaced the Marijuana Tax Act, placing hemp on the list of controlled substances. It was this act that the 2018 Farm Bill overruled.
What Is CBD?
You have probably heard the word CBD or hemp oil buzzing around for a while now. CBD (cannabidiol) is a compound that is extracted from the buds and flowers of the cannabis plant. Its effects give a non-psychoactive mild effect on those who use it. You can get hemp derived CBD oils in a number of strengths from our website. Our most popular seller at My Natural CBD is our 1,000 mg Full Spectrum bottle for general aches and pains.
Cannabis plants have over 80 cannabinoids in them, with THC being the primary, followed by CBD. The hemp plant, however, is a different strain of the cannabis plant (Cannabis sativa), with CBD being the main active cannabinoid and barely any trace of THC. This is what makes it legal to use.
There are a lot of studies going on of CBD and it's been showing a lot of promise as a wellness and nutritional supplement. Many people have been using it for a number of symptoms and medical conditions, such as anxiety, arthritis, chronic pain, epilepsy, inflammation, and multiple sclerosis. Other studies have said that it can shrink the growth of cancerous tumors. CBD is used as an additive in a variety of tinctures, oils, vape products, lotions, teas, and snacks, like our gummy bears.
Laws around CBD products has been a bit iffy though, depending on how it is derived, either from hemp or cannabis. There are important differences between the two:
CBD derived from cannabis
Hemp-derived CDB
The specific difference between hemp derived CBD and cannabis oil is that hemp CBD doesn't have the secondary cannabidiol or terpene that is critical for it to be used medicinally. CBD that is derived from hemp will not have a psychoactive effect, has no known side effects, an is non-toxic.
What Implications and Effects Will the Farm Bill Have?
With hemp being removed from the Schedule I list of substances, it gets rid of the legal issues that have surrounded products that are hemp based. It's no longer in that legal grey area that it has been in for several decades. It will allow hemp researchers to apply for federal grants, as well as protect farmers of hemp with crop insurance.
States like California have already begun cultivating hemp on an industrial level this year. Farmers in New York expect to blend hemp in with their soybean and corn crops to boost themselves from the effects of the drop in the dairy industry.
With farmers now able to grow, process, and sell hemp-based products as an agricultural commodity, it brings new opportunity for growth and stimulation economically in rural areas. Hemp itself is quite easy to grow and maintain, as well as being inexpensive. So, farmers can use this to boost their business when faced with a drop in other crops.
Mainly, the 2018 Hemp Farm Bill takes the stigma away from hemp being like marijuana, which opens the doors for anyone in the hemp industry.
Benefits of the 2018 Farm Bill for Hemp Farmers and Consumer
Hemp is no longer classified as a controlled substance
For ages, the federal government has insisted on treating hemp as though it were the same as cannabis. However, because of its 0.3% THC rate, it has now been removed from the Controlled Substances Act, and can now be viewed as an agricultural commodity.
Hemp-derived CBD is legal
The new Farm Bill has changed hemp's definition to include its derivatives, extracts, and cannabinoids, making it legal in the USA. However, companies will need to be diligent regarding how CDB products are sold and marketed until the FDA establishes some regulations and guidance.
Crop insurance for hemp farmers
With the 2014 Farm Bill, hemp farmers who participated in any state-run pilot programs were allowed to grow hemp, but they were not eligible to apply for insurance for their crop. This was a risky thing for those trying to grow the crop and could result in large losses.
Now, with hemp being seen as a commodity, farmers choosing to grow hemp can now apply for crop insurance as well as take part in any USDA programs based on certification and competitive grants.
Banks and hemp companies
Before the 2018 Hemp Farm Bill, banks were very reluctant to proved financial services to hemp companies, like giving them small business loans and checking accounts. With hemp being taken off the controlled substance I list, banks will be more willing to help those in the hemp industry. This includes credit and debit companies being able to process hemp derived CBD company accounts. Not only that, the doors are open to the CBD market for mass market retailers.
A Game Changer For the Hemp and CBD Market
So it looks like the hemp industry is set for some explosive growth in the coming years. It will be an economic boom for retailers and processors in the hemp industry, with the demand for hemp and CBD products going through the roof.
What does this mean for companies like My Natural CBD? Well, with hemp being legalized and redefined, hemp farmers and researches will be able to make new breakthroughs that allow for better hemp growth, processing, and higher quality products, which you can take a look at on our site: https://mynaturalcbd.com/collections/all
It also means better regulations and safer products and clarity for our customers, both old and new. We have always ensured that the ingredients that go into our hemp derived CBD products can be traced back their source.
A CBD thought leader, Brightfield Group, gave some projections for the hemp-derived CBD industry, believing that by next year it will have become a $5.7 billion market, and 40 times projected level of growth, about $22 billion by the time we enter 2022.
With favorable action by the World Health Organization in the coming year, the hemp industry is hoping to see more of an increase in the acceptance of the medicinal values of CBD internationally. For the consumer, it means hemp derived CBD will come down to more reasonable pricing. With companies not being able to charge high markups on CBD products, it will allow for a more fairly competitive market and a wider choice of quality products for customers.
Companies who have gotten a foothold in the industry already and offer quality products for good prices will see an influx on new customers since they are already established. Specialty and local health food stores will also see an influx of business that matches the already growing CBD internet market.
Benefits of CDB
Hemp-derived CBD products may have so many benefits that people have been missing out on until now. It's a natural alternative to medical marijuana that is safe and legal. Here are some of its more recognized benefits that have been published from other studies:
The reason hemp derived CBD has been shown to be an effective form of support for our body is that we actually have cannabinoid receptors throughout our bodies, also known as the endocannabinoid system. This system has millions of cannabinoid receptors that run throughout the brain, immune system, musculoskeletal tissues, and central nervous system.
These receptors react to both plant-derived cannabinoids, such as marijuana and hemp, as well as the naturally produced cannabinoids that our bodies produce. When hemp oil is introduced into the body and processed, it has the effect of boosting the endocannabinoid systems functionality. This, in turn, assists our body in regulating itself in a number of ways, such as balancing the metabolism.
It's most recognized benefit, however, is its pain reducing ability. It can reduce inflammation found throughout the body and regulated pain via compounds in the brain. A number of our customers take our hemp-derived CBD products for pain relief as well as anxiety.
CBD has been found to reduce anxiety, symptoms of PTSD, some mood and emotional disorders, and those who have not been successful using conventional depression and anxiety treatments. With the 2018 Farm Bill, new research can continue with finding more and more benefits of CBD.
Many of our customers use CBD vape liquids to help them quit smoking. We offer a range of vape pens and CBD cartridges
Other ailments CBD oil has benefitted are Alzheimer’s disease, stroke, sleep disorders, skin issues, and diabetes. It works in a beneficial way by blocking neurodegenerative pathways and also has neuroprotective effects on the brain.
CBD oil can be used in a variety of ways and means of application, such as supplements, vape oils, and infusions. The best part is that hemp derived CBD doesn't give you the high that you get from marijuana, but the amount of THC in CBD products does vary due to the extracts being allowed to have up to 0.3% THC. Our CBD oils come in a range of 300mg to 5,000mg tinctures and several flavors. We have even created scented bath bombs for a relaxing bath.
While Hemp was in that halfway stage of legality, the CBD oils that have been found on the market have had a wide range of potency, quality, and effectiveness. Since the hemp plant is a natural bio-accumulator, it draws toxins from the soil it is grown in, which means hemp can have a higher level of toxins. There have also been a large number of people selling synthetic, fake, and adultered CDB oils flooding the market in recent months.
The new Farm Bill will help eradicate these fake products and make sure those growing hemp stick to a process that eliminates toxins and provides only the best and purest hemp derived CBD.
Our products, their ingredients, and the processing of the oil are monitored well and we use only the best and purest forms of hemp oil. We only carry high-quality CBD, which has been lab tested and is in compliance with federal standards, legal in all 50states, and the most potent you can find on the web.
With the promise of more funding in the areas of research for hemp, we are hoping to see many breakthroughs that will benefit the industry, sellers, and customers. CBD will now be researched and studied like never before and we will be watching new developments so that we can share them here with you!
- FDA Disclaimer - *These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
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