Global food MNC Thai Union has revealed that it is eyeing several major business opportunities to be found in the hemp and CBD sector, from alternative proteins to supplements.
When Layn Corp subsidiary HempRise first announced plans to invest a cool $80m into a state-of-the-art hemp processing facility in Jeffersonville Indiana a couple of years ago, the expectation was that by the time it opened, we’d have clarity on the regulatory path forward for CBD at a federal level, and CBD-infused foods and beverages would be on shelf at every major retailer from Walmart to Kroger.
CRN president and CEO Steve Mister laid out four priorities for the supplement industry at a meeting yesterday. Among the highlights were to prepare for state based regulations and strengthening self regulation.
A Bill (AB 45) explicitly legalizing the sale of foods, beverages and supplements containing hemp-derived CBD in California has been signed into law by Governor Gavin Newsom.
California Gov. Gavin Newsom has signed a bill into law making hemp/CBD supplements and foods legal after an unsettled period in which the state health department was following a federal lead in ruling that CBD was not a legal dietary ingredient.