In our previous post about the availability of crop insurance, we talked about the impact made by the declassification of hemp and CBD crops. But now, with the boom of the hemp and CBD industry, the regulations need to be updated to reflect the recent declassification and the increasing popularity of hemp and CBD products.
Today, we will discuss if these regulations are needed and what they would mean for both the hemp industry as a whole and for Shi Farms as hemp manufacturers.
Learn more about what these regulations could look like in today’s post. If you’re looking for a hemp shop, Shi Farms strives to produce top-quality hemp and CBD products. Beyond that, we’re working to bring transparency to the hemp and CBD industry as a whole. Read more about our ingredients and visit our hemp shop today!
Do We Need Regulations for CBD and Hemp Products?
Shi Farms was recently interviewed for a CGTN American segment and article about the increasing need for hemp and CBD regulation in the aftermath of the 2018 Farm Bill.
The ability for hemp farmers to legally grow hemp plants in America — in addition to receiving other benefits like federal crop insurance — has turned CBD into a cash crop for both old and new hemp farmers. This new boom of hemp and CBD products has created a large market with regulations that haven’t caught up yet. CBD and hemp products might be declassified and legal to grow and sell, but that doesn’t prevent the market from having other businesses that aren’t following best practices.
At Shi Farms, we do see the need for these regulations to be updated. As our managing director Steven Turetsky puts it, “It takes more than just a couple farmers doing the things right to make sure the whole industry is operating in good faith.”
Right now, there is no oversight for manufacturers and no consistent level of quality given to consumers — something that our team at Shi Farms strives for. This lack of consistency is not only affecting hemp farmers, manufacturers, and distributors, however. The lack of consistency has made it challenging for consumers of CBD and hemp products to know which brands and manufacturers they can trust.
That’s why, at Shi Farms, we’re pushing for transparency throughout the CBD and hemp industry, starting with our own business. This transparency allows our consumers to know where their products come from, and shows how our top-quality product is made.
See what else Turetsky and Drew Ferguson had to say about the needed regulations around CBD, and watch the CGTN America segment for yourself.
The FDA — the U.S. Food and Drug Administration — recently had a hearing about updating the regulation of CBD. Right now, the FDA regulates drugs, including drugs containing marijuana. But the declassification of hemp products, and the legalization of marijuana in certain states, has created a gray area for the FDA. In general, the FDA will step in on drugs and products containing CBD and THC sparingly.
Now, the FDA will have to consider new regulations for the legal forms of hemp and CBD, figuring out what CBD products they consider safe and what regulations they should create around these substances.
Consumers Want CBD and Hemp Products
And the continued demand for hemp and CBD products is still there from the consumers — even if some people remain skeptical. In fact, many people have started businesses making and selling CBD and hemp products after they experienced the therapeutic benefits of CBD for themselves.
Shi Farms and Our Hemp Shop
Ultimately, tightening up regulations around the hemp and CBD industry would be a way to prevent bad business practices from happening and bad products from ending up in the hands of consumers.
Not only does the “shi” in Shi Farms stand for Sustainable Hemp Initiative, it is also the name of a massive bird with the largest wingspan. Like the shi bird, Shi Farms see the potential of the hemp plant as having the largest wingspan when compared to other plants.
If you’re looking for hemp farmers and manufacturers you can trust, then look no further than Shi Farms. From our CBD isolate to our hemp flower and hemp terpenes, we use top-quality hemp ingredients to make all of our products.