CBx Daily Digest

Sports Illustrated Drops CBD Line, US Domestic Hemp Market Tanking – CBM Daily Digest 2/3/2020

Elixicure gets FDA Registration

Elixicure, a pain relief topical with CBD, announced over the weekend that they were the first over the counter drug to have been granted FDA Certification. But that may not mean what it sounds like.

When we dug a little deeper, it turns out that Elixicure was indeed registered with the FDA, but the certification was of the registry, not the product itself. Confused, us too. The pain relief cream is registered with the FDA, and it’s a certified registration. But’s that not the same as a certified product, nor is it the same as an approved one.

We can’t wait for all of this FDA nonsense to get cleared up. Even when it does, we doubt many will truly understand what FDA approved really means.

Domestic Hemp Market Shrinking

While 2019 was awesome for US-based CBD product demand, as it turns out it was not so hot for the US-based hemp farmer. Many farmers who jumped in on hemp cultivation in 2019 are still left holding the bag (filled with hemp biomass).

Not only are farmers stuck with unsold cops, what is selling is going for 30% below December 2019’s pricing! The Hemp Benchmark for January also showed that CBD distillate sales had slowed 25% in January as well.

While there does seem to be increased demand for consumer products, that’s not necessarily translating to wholesale markets. According to Hemp Benchmarks, wholesale CBD markets could be in a world of hurt for most of 2020. Buckle up. 2020 should be a wild ride.

Sports Illustrated To Intro CBD Line

Authentic Brands, parent co. of Sports illustrated, announced Friday that they would be releasing a new line of CBD topicals for pain relief and recovery.

The new line, developed and manufactured by Sentia Wellness, will encompass both the Sports Illustrated and Sports Illustrated Swim brands. Sentia was formed last year by former employees of Cura partners and is in the queue to be acquired by Curaleaf later this year.

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