Hong Kong has begun to crack down on the CBD industry with those selling CBD infused beers or coffees unsure of whether they can survive.
The CBD market in Hong Kong has never been regulated but this hasn’t stopped many different cafes and shops selling CBD products.
The government of Hong Kong hopes to ban all CBD related substances by the end of the year leaving those with business in a state of worry.
CBD is unlike traditional cannabis in that generally these products do not contain any THC. However, it has been noted in unregulated markets that the ingredients on the label can sometimes be different to what is within.
Those operating in Hong Kong claim their products contain no THC and would pass the government compliance level.
The majority of Asia has largely been against cannabis related products with many nations having strict drug related punishments. Despite this the worldwide CBD industry is estimated to be worth billions of dollars.
This has changed more recently with Thailand becoming one of the first nations to legalise cannabis and Indonesia was another nation that was looking into the possibility of legalising medicinal cannabis. This has not progressed as some would have hoped though.
Authorities have said that the reason for the ban is that CBD compound can decompose or be turned into THC, the substance commonly associated with cannabis.
Those that have set up their CBD business in Hong Kong are likely to find little room to manoeuvre and are likely to have to shut down.