The American candy industry is about to see a big jump in demand as the global price of Cbd oil continues to plummet.
But what to do with the extra cbd that has been scooped out of the ground?
Some cbd candies may be sold off on the black market, but the candy is still being used by Australians.
The US is the largest market for Cbd in Australia, but its popularity is slowly spreading to other countries.
The price of cbd, which has been a major export ingredient in US and UK medicines for decades, has been plummeting over the past few years.
The drop in cbd prices has been particularly dramatic in the last few months, as US and British pharmaceutical companies have been struggling to sell more and more cbd to the global market.
The World Health Organisation estimates that cbd costs have risen by 50 per cent since 2010.
Its a huge increase and one that is likely to continue for the foreseeable future.
The sweet, crunchy candy is an essential ingredient in most medicines, but in recent years the US and many other countries have started to push back on cbd imports from the rest of the world.
The International Trade Association says Australia’s move has left the industry vulnerable to the impact of a rising global cbd price.
Its pushing for the Government to ensure that the price of the cbd remains at a level that is fair and equitable.
“We’re saying the price should not be increasing in a way that has an impact on Australian consumers,” Dr Sarah Whitehead, ITA’s head of policy and campaigns, told ABC News.
“Australia has been the leader in exporting cbd from the US to other parts of the globe, but we need to make sure that this is not being exploited by other countries to extract more profits from Australians.”
Dr Whitehead is one of the main proponents of the ITA lobbying the Government on cbsto save Australian consumers money.
She said the industry would continue to lobby the Government for increased cbd supply.
“What we’re saying is if you can get the price down to where it is fair to Australians then that is going to have a positive impact on consumer prices,” she said.
“It’s going to be a big win for consumers in Australia.”
Topics:health,drugs-and-substance-abuse,diseases-and,health-administration,health,australia,sydney-2000First posted February 19, 2020 18:28:58Contact Ian MargettsMore stories from New South Wales