CBD Furor Hits Finland
In an ongoing development in the saga for normalization and regulation of the CBD biz in the EU, the Finnish Food Authority has instructed shops to pull certain kinds of CBD products off the shelves. The products were unlicensed to be sold as foodstuffs, at least according to authorities. The reasoning used by Fimea was that those foods containing cannabinoid extracts must be classified as novel food in the EU and therefore may not be used as foodstuffs without a novel food license.
Nutritional supplements containing CBD have been sold in health food stores across the country, although in Finland, CBD oil is classified as medication. That is a very interesting distinction of course, and also guarantees that all medical CBD must also be GMP compliant.
What does this mean in the short term? Smart producers will stick with edibles that use oil rather than extracts. No matter the medical designation. This is also territory that will not change any time soon.
Novel food at heart is about the regulation of two things – the source of the plant and how it is tolerated by human beings au naturel and when processed (and how). This fight also, and just as obviously is in the room, whenever “recreational” reform involving THC also hits.
This is also one of the more nuanced announcements to be made about the topic of late. This also undoubtedly means that this language is being honed by advocates and policy geeks alike.
Whatever the future holds in other words, for the CBD part of the industry in Europe, it will be regulated, one way or another, by international, cross-region regulation that is clearly changing, albeit with the times.
What Does This Mean For Investors In Euro CBD?
Go slow and with extreme caution, but if Finland is making this kind of gesture right now, look for an evolving discussion, at a federal and international level across the region for the next 12-24 months.
For food, supplements, and medication, at least for the short term, going with an oil-based CBD ingredient is also the safest course for the short term.