Europe loosens its stance on CBD as U.S. market grows
Last month, the EU’s high court, the Court of Justice, ruled that CBD derived from the entire hemp plant is not a narcotic per an international drug treaty, allowing the ingredient to be traded freely and legally among member states. The Court has yet to rule on CBD extracted from the cannabis flower but is expected to decide later this month, per Hemp Industry Daily.
In the U.S., four states voted to legalize recreational cannabis use last month, bringing the total number of states where recreational cannabis is legal to 15. South Dakota and Mississippi both legalized cannabis for medical use, as well, bringing the total number of U.S. states with medical cannabis programs to 35.
In late October, CBD isolate pricing in the U.S. rose for the first time in over a year, albeit slightly. Average pricing is now around $737.50 per kg, up from the recent low of $712.50 per kg, per Jacobsen. The pricing increase may be due to election results opening up new markets.
Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.