Hemp being federally legal would be huge for the CBD industry, as CBD oil made from hemp extract (a plant that has very low amounts of THC) would be legal. A new, more available form of CBD would also allow for more research on the subject of cannabidiol, and perhaps the entire marijuana plant. More research brings the potential of coming closer to full legalization.
Cost is another consideration. Most CBD oils are sold in concentrations of 300 to 750 mg, although this may range from less than 100 mg to more than 2,000. A good indicator of price-point is the cost per milligram. Low-cost CBD oils usually fall between five and 10 cents per mg; mid-range prices are 11 to 15 cents per mg; and higher-end oils cost 16 cents per mg or higher. Given these varying per-milligram costs, a bottle of CBD oil may be priced anywhere from $10 or less to $150 or more.
For decades, laws had grouped hemp and marijuana in the same category, conflating both plants and confusing the public. All of this changed in 2018 with the passing of the Agriculture Improvement Act. Also known as the 2018 Farm Bill, the new legislation removed hemp from the federal definition of marijuana and reclassified it as an industrial commodity. In other words, the bill made hemp legal at the federal level and established it is to be regulated by The Department of Agriculture rather than the Drug Enforcement Agency. As a result of the bill, hemp and hemp-derived products are completely legal nationwide, though individual states may still impose minor restrictions.
Truly! I found out through import/export contacts that I could actually buy CBD not only in 55-gallon drums but in those massive containers like gas comes in .. just for a few thousand bucks!! I knew right then, if I had the money, I’d be ripping off the suckers there by the thousands – but I didn’t have the money, and probably .. maybe … wouldn’t REALLY want to do that! LOL Frankly, I cannot blame the sellers anymore. PT Barnum said it best, “There’s a sucker born every minute.” And if we suckers don’t wise the hell up, we almost deserve to have our money taken from our pockets.