Potential Changes to Scheduling of CBD?
The THA actively supports the inevitable - albeit slow - progression in Australia towards whole-of-plant-use with hemp, and are very encouraged by the news that the Therapeutic Goods Administration (TGA) are considering amending the scheduling of the compound Cannabidiol (CBD). According to the World Health Organisation, “CBD is generally well tolerated with a good safety profile”, and you can read more about what the WHO have to say here and more about CBD in general here. A change to Australia’s current laws would mean that Tasmanian growers and processors can get full value out of their hemp crops in the same way those in competitor markets in Canada, the USA, China and the EU are doing, and consumers can have more choice of products for health and wellbeing. Our Association will be formally submitting a submission encouraging the TGA to reschedule CBD so products containing this element can be made and sold to our Australian domestic markets, and we actively encourage all of our subscribers and especially our Members to consider making a public submission so your individual views can be heard. The due date for both cannabidiol consultations is close of business 22 May 2020. Updating Australian law to keep up with the rest of the world would seem to result in clear and obvious benefits to the economy through job creation at a time when this type of advancement is so desperately needed. You can read more about the proposed amendments in a recent article by our friends at the well-respected Cannabis Law Report here. Given the complexity of the topic, the THA will be sending more information about this process in a separate eNews special update next week.