In January 2019 the European Commission classified all extracts of hemp and derived products containing cannabinoids (including CBD) as novel foods.
It was a decision that has profound ramifications for the future of the still nascent but fast growing CBD industry in the UK, EU and across the world.
Over the course of the past six months the CMC have, with our member’s support, been undertaking a wide-ranging review of the UK CBD sector. We commissioned the most comprehensive market sizing exercise, conducted a product testing review with The Times and ran the first ever opinion poll to establish public attitudes to the CBD market and its products.
This first phase of the project concluded in June this year with the publication of our seminal and much cited CBD in the UK report.
Since June we have been preparing to launch phase two of this project to enable us to begin the process of implementing the recommendations we set out in June . We have strengthened our core team and entered into a partnership with award winning regulatory consultants GRS.
With this new capability now in place and following extensive consultation with our members and key stakeholders we are now ready to launch phase two of our project. On 8 November we will be launching a new industry association and platform for the sector - the Association for the Cannabinoid Industry.
The foundation of this new association is our Quality Charter. You can read and endorse the draft charter, watch the accompanying explanatory video and apply to be a founding partner on this website.
Over the coming months our focus will be on further building our resources to maintain the integrity of these new industry standards and conduct the first round of audits of our members to ensure we are collectively delivering on them.
Throughout this process we will continue to consult and engage intelligently with policy makers, regulators and other relevant stakeholders to steer our members through a challenging and often complex regulatory environment.
In what is fast becoming a moment of reckoning for this industry our unequivocal commitment is to provide the required stewardship to support the development of a legal and safe, regulated cannabinoid industry in the UK.
Today’s announcements represent another key milestone on this path.
Strategic Counsel - CMC/ACI
28 October 2019