France sets temporary rules to keep $300 million market for CBD open

March 21, 2023 from HempToday

French authorities have approved temporary guidelines which allow CBD products to be declared as food supplements and remain on the market pending authorization under the EU’s food safety program.

The development sends positive signals to CBD hemp growers, producers and investors anxious to take advantage of the French CBD market, estimated at €300 million.

“It will build a lot of confidence up and down the value chain. Even though it’s not a full authorization, it is a step in the right direction” said Ludovic Rachou, President of the Union of Industrialists for the Valorization of Hemp Extracts (UIVEC), a trade group that worked on the rules, which were approved by the Ministry of Finance.

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