TraceGains (Westminster, CO) has announced that it’s partnering with Australia-based Ecofibre to drive standards and compliance in the hemp industry.
Ecofibre has distinct businesses underpinned with more than 20 years of growing and breeding experience. The company owns one of the largest and most diverse collections of genetics with more than 300 land races of cannabis from more than 25 countries. This unique asset, combined with deep growing experience, gives Ecofibre the ability to work across many latitudes to ensure stability and control of its value chain.
Ecofibre has been deeply involved in the development and passing of U.S. hemp legislation from its inception as Chair of the Kentucky Hemp Commission in 2013 to Chair of the U.S. Hemp Roundtable that facilitated the removal of hemp from the Controlled Substances Act in the 2018 Farm Bill.
According to TraceGains, to fully comply with the 2018 Farm Bill, manufacturers, and distributors must ensure any hemp-derived CBD within their products are grown only by U.S. farmers in states with formal hemp programs. There’s a risk that manufacturers and distributors may find themselves unknowingly purchasing and transporting a Schedule 1 substance if they lack full transparency and traceability of the source of CBD products.
“Although global hemp industry regulations remain uncertain, everyone working in hemp today recognizes the need for additional standardization, to support imminent compliance requirements,” TraceGains CEO Gary Nowacki said. “Our partnership with Ecofibre represents our joint commitment to helping companies working with hemp avoid risk and easily adhere to current and future legislation.”
“TraceGains has a long history of protecting consumers, manufacturers, and distributors by ensuring the highest level of transparency in safety and compliance,” said Ecofibre Managing Director Eric Wang. “We reviewed several options, but only TraceGains gives manufacturers and distributors the ability to validate that CBD providers are fully compliant with the 2018 Farm Bill.”