Hemp is probably one of the most versatile crops on the market right now. Said to have thousands of uses, the crop’s demand has grown so rapidly that experts estimate that it will be worth billions by 2024. However, because of its close relation to cannabis, it has been illegal until recently. Due to this, there’s very little accurate information in hemp cultivation best practices.
That will be one of the main issues on the agenda during the 2020 CBD Global Summit to be held in London. Sponsored by William Reed Business Media, the publisher of FoodNavigator, NutraIngredients, CosmeticDesign and The Grocer, the event will combine the latest insight from the worlds of science, regulation, and business to explore the new frontiers in innovation being opened by the march of cannabinoids.
Cannabinoids are a type of chemical produced by hemp. The plant produces over 100 cannabinoids, including THC (delta-9 tetrahydrocannabinol) and cannabidiol (CBD). THC is the chemical responsible for cannabis’ infamous high, and hemp and CBD legislation has set the allowable THC limit at 0.3%.
CBD, on the other hand, isn’t intoxicating. Although there’s little scientific evidence, consumers claim the chemical is a potent and versatile natural medicine, able to act against a range of ailments including anxiety, insomnia, and high blood pressure.
The two-day event will be graced by up and coming brands making waves in the CBD sector, leading retailers and a lineup of speakers. They will also talk about the changing regulatory landscape, and how it affects consumers and other players. It’s a major issue that has plagued the industry, and hemp farmers, CBD processors and sellers have been affected by the uncertainty this fluidity has created.
The controversy surrounding CBD’s medical ability will also be discussed, with the view of finding concrete proof that the chemical is actually medically effective. Most of the evidence backing these claims is anecdotal, and industry players agree that a lot more research is needed to maintain consumer confidence.
Some of the anticipated speakers include Skirmantas Nikstele, CEO and Founder, Agropro; Lisa Hawthorne Co-founder, Bravura Foods; Al Overton, Buying Director, Planet Organic; Alex Lai, CEO and co-founder, Raylex Brands; Paul McCourt, CEO and Founder Celtic Wind and Tony Calamita, Managing Director, Love Hemp.
Graham Twyford, the William Reed Business Media Executive Director, explains the summit’s vision, “We’ve been covering CBD extensively in recent years through various media channels at William Reed, not least at FoodNavigator. Amid all the hype, we feel the sector needs a voice of reason. We’re keen to remain that voice by hosting an event that takes a responsible look at all potential opportunities and challenges.”
“By tackling science, business, regulation and the supply chain on a global and multi-industry level, we aim to provide education and guidance in a vibrant, networking-friendly setting,” Twyford adds.
Experts believe that North American CBD companies like SinglePoint Inc. (OTCQB: SING) fully support the aims of the global CBD summit slated to be held in London since such events help to ensure that the industry grows sustainably.
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