The 2018 Farm Bill has passed! What a great way to end the 2018 year! On December 20, 2018 President Donald Trump signed the Agriculture Improvement Act of 2018 , legalizing the production and marketing of industrial hemp. A revolutionary step for an industry that has had to maneuver conflicting laws, restrictions on marketing, and financial disruptions.
With the legalization of industrial hemp production and its removal from the government's controlled substance list, the bill “...allows states to become the primary regulators of hemp cultivation, enables researchers to apply for federal grants and makes the crop eligible for crop insurance” Daniels, Jeff “Hemp legalization included in new farm bill could ‘open the floodgates’ on nascent industry” 07 Dec. Yet, the best news--in our opinion, is the regulations that will help weed out ( pun intended) good companies vs the not so good ones.
For example, The State of Indiana has some unique requirements for companies selling CBD products: labeling. Lawmakers in Indiana have included the labeling requirements to help consumers understand what is in the products that they intend to buy. Using a QR code, which is a scan-able label that can be accessed by using a smartphone, consumers will have direct access to lab results for that specific product. With the introduction of the Farm Bill 2018 QR codes most likely will be required in every state not just Indiana.
Want to see our products list? Click here.
Two power houses that until now did not see eye to eye. Marketing, for any business is essential; however, in the CBD industry navigating the marketing components has not been an easy task. Yet, with the federal legalization of industrial hemp production change is already here. One of the biggest challenges for online E-commerce merchants of CBD products is the ban on paid advertising through major platforms such as Facebook, YouTube and Google; however, that is expected to quickly change with the new Farm Bill 2018. This change will revolutionize the industry that is expected to top $20 billion by 2022.
Say goodbye to the reluctance of credit card vendors and the disruption in financial transactions. It’s expected for credit card processing to becomes a lot easier with the Farm Bill 2018. Especially online transactions which can be a BIG hassle right now for consumers. Many companies, including ourselves, use a credit card processor based overseas. Unfortunately, the use of this method increases the risk of transactions getting declined and customers having to call directly to place orders if they are unable to do so through online portals.
We’re crossing our fingers for this to change ASAP!
Having trouble with a purchase? Click here
Comments will be approved before showing up.