The impact of the new Biden presidency will be felt in U.S. exports to Europe.
There is one thing to absolutely rejoice across the industry about the new Biden win. Given the European Parliament’s recent vote to raise the amount of THC in hemp that is sold here (as raw flower) from 2-3%, the signs are good that American biomass (at least) will find a ready home in Europe.
What this development means, beyond the potential for European harmonization on at least hemp, is that the European market is opening itself up to (at least) biomass of the American kind.
Beyond this, the US-EU MRA which went into effect in July last year means that American firms who meet the strictures of EU-GMP will also be able to import across a continent that is looking for sources of high-grade product as the entire conversation now trickles through the political process.
However, the reality is that the normalization of the entire conversation in the U.S. including decriminalization (at minimum for now), and the equalization of the topic in Europe will absolutely lead to greater opportunities for the American industry, finally, to expand to Europe in a much more concentrated way.
The biggest issue, as still continues to haunt the Canadians, is meeting those European certs. And that, beyond EU-GMP on the cultivation side, and Novel Food if not EU-BIO on the hemp one, also applies to labeling.
The Hurdles Are Still High
One of the biggest hurdles facing American exporters, as those who have begun to brave these new waters know, is making sure that certs match up all the way down the chain. This starts with American farmers familiarizing themselves on how to grow crops that are acceptable in the European market place, and further, how to find exporters who have the ability to translate both state and federal law to customs officials.
That in and of itself is still a shark-strewn body of water, but it is also one in which those who meet standard quality tests will win. This is a conversation that absolutely comes down to science. The calibrating tests now available and indeed required, do not lie.
For the latest trends in a still-developing market, be sure to stay tuned to the International Cannabis Business Conference blog as well as attend the conferences when they return to Europe in 2021!