Shockwaves were recently sent through the Cannabis industry when the DEA finalized their ruling on CBD. While many were upset, others in the industry expected this to be the final position. In their statement, CBD Oil and any Cannabis extract falls under a new code and carries a Schedule 1 status. (Our CBD Paste products are not extracts).
What does it mean? According to the DEA, there are no plans to change the way they are handling CBD extracts – that this is just a tracking issue. CBD can still legally be shipped to all 50 states. Time will tell, but the reality is CBD production has become a billion dollar industry and Forbes predicts a 700% increase in sales by the year 2020, reaching close to 3 Billion in annual sales.
The Cannabis Industry seems legally poised to take on the DEA in court, should their current position change, but technically the ruling is about extracts. And some say they do not even have the authority to classify a legal hemp extract. While all of this does concern us, our paste products are not extracts and are created by paste and tincture methods, produced from very high CBD yielding Hemp plants. Because of the plant’s high CBD content, and our desire to provide a more holistically produced product to the consumer, our producer’s methods use the entire plant. There is no separation or extraction. In addition, low heat processes reduce the damage to the natural Cannabinoid structure of the plant material resulting in an end product that contains a much higher percentage of terpenoids and cannabinoids.
We believe our paste related products are not classified in this new change.