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The economic factor of CBD is definitely working in the consumer\’s favor. The prices have come down, and are likely to remain that way. The reasons are that there is a surplus in the supply, competitive pricing, and it\’s also due to the pandemic. These factors have driven down the cost of hemp-derived CBD. It has become more affordable as a health and wellness aid,
Analysts forecast that CBD Sales were going to be 14.75 billion dollars, which was a 14% increase. The boom from last year came after the Agricultural Improvement Act, or 2018 Farm Bill. The low level THC hemp and its derivatives were removed from the Controlled Substances Act.
The FDA has the power to develop guidelines for the use of CBD in food, cosmetics and pharmaceuticals, and a policy governing CBD in these products has yet to be finalized.
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