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In this weeks news, we dive into how the UK Food Standards Agency (FSA) is struggling to process Novel Foods applications and the consequences this poses on the UK's CBD industry as a whole. We also take a look at Pepsi's new hemp infused energy drink launched as Rockstar Energy +Hemp, and the launch of Germany's first Cannabis firm on the Dusseldorf stock exchange. -- -- -- 🛒 Visit https://www.brownscbd.co.uk and explore the UK's finest quality, carefully sourced and tested CBD products. This video in not intended to be used as medical advice. If you have any concerns about using CBD or other cannabinoid products, please consult your doctor or healthcare professional. -- -- -- Starting in the UK, just three months after the initial Food Standards Agency submission deadline had passed, the latest figures for the UK Fsa show an increasing number of applications failing to make it through the first stage of the CBD Novel Food process. 803 applications had been received so far with 250 of these passing through to the Administration or Validation phases by the end of May, with no new additions to the ‘Public List’ in almost two months. “As of June 1, 2021, there have been 809 CBD applications since January 1, 2021. Out of those, 250 applications are currently undergoing administration/validation checks and four have passed Validation and are at the Assessment phase (these are linked to the products on the public list).” Therefore, it looks as though the number of live applications has fallen by 67 over the last month – which in every likelihood means that the FSA has identified issues with these applications. UK CBD Novel Food expert Greer Deal “What has happened to the 67 out of the original 317 applications which were going through Have they been asked to withdraw or been voluntarily withdrawn or are they incomplete applications which will eventually appear on the ‘pending validation’ list? “Uncertainty creates confusion, confusion results in fear and fear leads to inaction. The UK CBD food industry is at risk of stalling which could be a disaster for this sector and for the UK economy. “It is critical that the FSA delivers clear information on a more frequent and regular basis so that companies know the exact status of their novel food applications, can take action as appropriate and plan accordingly.” Canna Consultants Co-founder, Steve Oliver, also commented on the state of the FSA’s disorganisation; “This could seriously damage the credibility of the Food Standards Agency as the latest figures indicate more than 500 non compliant companies so a ‘failed list’ was probably more appropriate in these circumstances. It is certainly leaving many in the industry in a state of high anxiety and vexation. “Although many in the industry do not wish to comment publicly on what is being described, off the record, as a debacle.” -- According to cannabislaw.report and businesscann.com, Cannovum, a German importer, wholesaler and distributor of medical cannabis, made its debut listing on the Dusseldorf Stock Exchange only a few years after cofounder Pia Marten founded the Berlin-based firm with Marius Koose in 2019. After signing an agreement with a pesticide-free cultivator in a southern European country, Cannovum is now close to launching its own branded range of cannabis flowers and extracts. Pia Marten said "We are the first German cannabis company, fully-licensed, to debut on a German stock exchange. When it comes to medical cannabis there is still a lot of stigma around it. Here in Germany a lot of people still see it as a drug and not a medicine. Our aim is to position ourselves as a serious pharma company.” -- Many people will be familiar with the Rockstar energy brand, owned by Pepsi, but many might have been surprised to see advertising for the new Rockstar Energy +Hemp. Launched in Germany, Rockstar's second biggest market behind the USA, Original,” “Tropical Burst” and “Prickly Cactus” variations. In addition to the hemp extract, the product includes caffeine, guarana and taurine. PepsiCo DACH said 58% growth in hemp-based products in the fast moving consumer goods sectors last year (according to researcher Gfk), makes hemp “the trend of the year.” More than 4 million households in Germany have already purchased a hemp product of some kind, the company noted. Isabel Teves, Commercial Director, said “Sixty percent of the growth in the energy drink segment is driven by innovation.” -- -- -- Help support the channel! Follow us on Instagram! 🔗 https://www.instagram.com/brownscbd Like or page on Facebook! 🔗 https://www.facebook.com/brownscbd Follow us on Twitter! 🔗 https://twitter.com/brownscbd 🧾 Read more on our blog at http://www.brownscbd.co.uk/blog -- -- -- 🎶 Music: Bongo by KV https://youtube.com/c/KVmusicprod Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: https://bit.ly/Bongo-KV Music promoted by Audio Library https://youtu.be/pDiQewAmf9Y
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