As the hemp industry is expected to reach the billion-dollar range by the year 2023, the Canadian Hemp Trade Alliance (CHTA), a national organization that promotes Canadian hemp and hemp products globally, urges changes be made to currently existing regulations reports Assiniboia Times.
The Calgary-based association allegedly supports what the Senate Standing Committee on Agriculture and Forestry had to say in their report regarding “room for growth” within the food processing sector. In particular, some of the topics of discussion included regulatory frameworks, innovation, competition among others – all of which the CHTA trusts align appropriately with the Canadian Hemp industry.
That said, the national organization deems established regulations are deteriorating the Canadian hemp industry, preventing the CHTA from meeting their goals. Their passion for a reform has been reflected in a paper called: “CBD White Paper: A Call for Smart Regulation”, which combines the efforts of both the CHTA and the Canadian Health Food Association (CHFA).
Here’s an extract of the paper:
“Today, the Canadian Hemp Trade Alliance (CHTA) and the Canadian Health Food Association (CHFA) call for improvements to Canadian regulations, which currently treat phytocannabinoids, including CBD […] as ‘drugs’.”
As per the President of CHTA, Russ Crawford, the hemp industry is booming within Canada, and this gives great opportunities not only to consumers but farmers as well. Unfortunately, Health Canada’s decision to include CBD among others under the “Prescription Drug List (PDL) and Schedule 2 of the Natural Health Product Regulations,” did not sit well with Crawford, who argued that it simply restricts hemp-derived cannabinoids’ uses.
Three reasons for regulatory reform have been provided by the duo, which include the insignificant risk CBD has on human health, the country’s ability to serve as a deserving competitor within the CBD industry and how current regulations are stimulating growth within black markets.