Over the last few years, CBD has gone from being an unknown substance to one of the most popular food supplements in the world. During that time the products have been adapted, the industry has developed and new regulations have been introduced. To get a better understanding of CBD and the industry, let’s take a close look at the latest stats and facts.
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What is CBD?
Cannabidiol (CBD) is an active substance found in cannabis plants. It’s one of a group of over a hundred natural chemicals called cannabinoids. Cannabinoids can interact with our nervous system via receptors and enzymes.
CBD produces a range of useful effects that are beneficial to our health and wellbeing. It’s the second most abundant cannabinoid next to THC, but unlike THC, it’s not intoxicating. In the UK, CBD is commonly sold as a food supplement and can be found as an oil, gummies, in capsules, in e-liquids or in topically applied products.
CBD is a non-intoxicating cannabinoid that won’t get you high.
Organic certification and inspections cost about £500 per year, depending on the size of the farm and where it’s located in the world. However, the cost of converting to organic practices can be significantly more and drives up CBD prices.
Converting a farm for organic certification can take up to 3 years.
Hemp can cost up to £2000 per kg for high-quality buds with 8-10% CBD and as little as £15 per kg for low quality 3% CBD flowers. However, most brands will be able to get extra discounts by buying in vast quantities.
Decarboxylation is completed using an oven that costs approximately £3,500 to £5,000.
Third-party lab testing can be about £500 for a complete set of tests for one batch. However, this varies depending on which cannabinoids the lab are asked to analyse, if they screen for contaminants and how low they set the limit of quantification (LOQ).