The booming hemp-derived THC beverage industry received a bit of good news this past weekend.
The U.S. Senate is expected to vote on a continuing resolution that includes a one-month extension of the federal compliance deadline for non-synthetic hemp cannabinoid products, moving the date from Nov. 12 to Dec. 11.
The proposed extension would give Congress additional time to consider federal hemp regulations after the November election.
Louisville-based Cornbread Hemp said Senate leadership responded to requests from farmers, hemp companies, beverage distributors and consumers for additional time to address federal hemp policy.
“This one-month extension is a response to the progress made on crafting meaningful regulations,” the company said in a statement. “For months, hemp advocates have been working with Representatives Andy Barr and Angie Craig on a real regulatory solution. Their bill, the Lawful Hemp Protection Act, sets a national potency standard and closes loopholes that allowed foreign-made synthetic THC to proliferate in an unregulated market. A one-month extension for non-synthetic hemp products gives the Barr-Craig bill room to move forward.”
Cornbread Hemp also said it expects the House to consider the continuing resolution after lawmakers return from the Labor Day recess.
“We look forward to getting this CR to the president’s desk when the House returns after Labor Day, while engaging with key stakeholders to improve the proposed legislation before the December 11 deadline,” the company said.
The Hemp Beverage Alliance (HBA), a trade association representing 375 hemp beverage companies in the United States and Canada, also supported the proposed extension.
“The Hemp Beverage Alliance is thrilled the Senate is standing up for responsible hemp beverage suppliers and their supply chain partners,” said Christopher Lackner, founder and president of the Hemp Beverage Alliance. “We urge the Senate to quickly pass this legislation and send it to the House for their swift approval as soon as they return.”
According to the HBA, the proposal would temporarily delay a federal prohibition on the manufacture and sale of hemp beverages while Congress considers a longer-term regulatory framework.
The association pointed out that businesses across the beverage supply chain, including craft brewers, wine and spirits distributors and liquor retailers, have entered the hemp beverage category. It also said states with hemp regulations have generated tax revenue from legal sales.
The HBA recently released an industry report that found hemp beverage sales have grown 133%. The association said a federal regulatory framework could support additional growth in the category.
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