RE: Convincing Case14 Feb 2020 07:07
Thursday’s announcement by the UK Food Standards Agency (FSA) for tightened regulations on CBD products is “welcome” by the industry, a manufacturer said.
Nick Tulloch, chief executive at Zoetic International PLC (LON:ZOE), said the sector had been waiting for more clarity on legal requirements.
“We are supplying customers with a product we say is good for their health, therefore it is important the products are manufactured to a very high standard, and I think what the regulations will do is to ensure those standards are met,” he told Proactive.
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But some companies may not have enough resources to be approved by the FSA.
“Some of the smaller CBD sellers will struggle to comply with regulations and, whilst I fell sorry for their businesses, the good news for those of us who can still continue is that we create a much more stable industry with less competition,” Tulloch added.
Zoetic says it has more control on the supply chain as it grows its own hemp which is then used to manufacture products sold under its brand