BINGHAMTON, NY – The regulations on the hemp and CBD industry in New York State has finally been released, almost a year after the Hemp Extract Law was signed by Governor Cuomo.
Some of the regulations are good for the market, according to the Castetter Cannibis Group, formerly known as Castetter Sustainability Group.
The 60-plus page document produced by the Governor’s office says food, CBD based beverages, supplements, and others can be sold in the state.
However, there are some restrictions, including banning the hemp flower, which is responsible for a fast-growing part of the market.
Empire Standard and Castetter Cannibis Group CEO Kaelan Castetter says the flower itself is not a danger because it will not get consumers high.
“It’s a very popular means for people to consume cannabis, to have access. It’s a low cost for consumers. It’s a low cost to entry, and its ability for farmers to get their product directly into the hands of consumers, think very similarly to locally grown produce, right, and selling that directly to a farmers market,” he says.
Other restrictions that bother Castetter include labeling laws and high fees for licensing.
He says the fees prevent other small businesses from entering the market.