CBD Oil Taiwan

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Taiwan has no rule or law allowing for the sale of CBD related products and drugs and currently has very little to no potential for importing hemp or hemp… The CBD market There is no definitive cause behind the recent growth in the cannabis market. Changes to legislation in certain jurisdictions and the isolation of the cannabinoid cannabidiol (CBD)

Taiwan: Hemp

Taiwan does not have a market for hemp products because cannabis is classified as a Class 2 narcotic. All drugs or products that contain tetrahydrocannabinol (THC) over 10ug/g (10ppm) are in the same class of narcotics. Taiwan’s Food and Drug Administration specifies that drugs containing cannabidiol (CBD) are allowed, but there are currently no domestic approved drugs with CBD content and there is no rule or law allowing for the sale of CBD related products and drugs in Taiwan. Therefore, Taiwan currently has very little to no potential for importing hemp or hemp related products.

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Global Agricultural Information Network (GAIN)

Insight and analysis from FAS’s overseas offices on issues affecting agricultural production and trade.

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The CBD market

There is no definitive cause behind the recent growth in the cannabis market. Changes to legislation in certain jurisdictions and the isolation of the cannabinoid cannabidiol (CBD) as a medicine and food ingredient are likely to have contributed, as well as the increased awareness among the public of its perceived wellbeing benefits.

The market is currently worth £300 million in the UK, a figure that is expected to more than triple in the next five years. That equates to a £1 billion market in CBD alone by 2025. The number of CBD oil users also doubled from 125,000 to 250,000 between 2017 and 2018. High street chains such as Holland & Barrett, Boots and Lloyds Pharmacy are all stocking CBD products as they provide the most accessible products for both producers and consumers.

All CBD oils incorporated into high street products are imported into the UK, predominantly from the US and Eastern Europe. It is questionable whether all these imports go through the rigorous testing process required here to confirm compliant levels of controlled substances.

Tests have found that up to 62% of UK high street products that were analysed did not contain the CBD content indicated on the product labels. Others were found to have unacceptable levels of controlled substances, such as THC. Many producers are, therefore, turning to self-regulation and independent verification to ensure compliance and a quality product.

Extraction of cannabidiol compounds is highly regulated, meaning such markets are largely inaccessible. Yet this makes the UK an attractive prospect for those capable of overcoming regulatory barriers, owing to the reduced competition in this country. Those who obtain a licence to extract and utilise cannabidiol compounds for medicinal or scientific purposes are few and far between and so the production is likely to be a high value product.

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The CBD market is expected to more than triple over the next five years

A SCIENCE LESSON

Cannabis sativa, often known simply as cannabis or hemp, contains at least 113 different cannabinoids. Cannabinoids are a class of similar chemical compounds that act on specific receptors in the brain. Amongst those 113, there are two of specific interest:

THC produces the psychoactive effects that cannabis is synonymous with. As the principal psychoactive compound, THC is responsible for the “high” that cannabis can produce, as well as its medicinal properties. Unsurprisingly, it is this compound that is most closely regulated.

CBD is the compound providing cannabis with its recent market success in the UK. The compound is not psychoactive, but many people believe it has numerous wellbeing benefits. While not producing a “high”, CBD has been linked with pain relief and reduced feelings of anxiety. CBD is not regulated like THC and greater awareness of these perceived benefits has led to this growing market.

Read the articles within Spotlight: Hemp cultivation in the UK below.

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