Changes in Australia could make CBD available over-the-counter

Share this:

Proposed new CBD regulations could help fuel an overall increase in Australia’s cannabis market, which is projected to grow in value to USD$1.5 billion by 2025.

Under the draft rules, CBD would be categorized as an over-the-counter (OTC) product, technically being switched from a Schedule 4 to a Schedule 3 substance. Only persons 18 or older could purchase CBD, which would have a maximum daily dose of 60 mg.

Low doses studied

Announcement of the draft rules follows a safety review by Australia’s Therapeutic Goods Administration (TGA) that looked at the effect of CBD administered in low doses.

Making CBD available over-the-counter would be a “watershed moment” for medical cannabis in Australia, Rhys Cohen of Sydney-based FreshLeaf, a consultant, said of the development.

Several medical cannabis and CBD companies already on the ground including more than 15 CBD-specific companies listed on the Australian Securities Exchange. Those companies would stand to benefit greatly from the changes.

Fast growth expected

The changes could make CBD a significant contributor to fast growth expected in the Australian cannabis business overall. Consultancy Prohibition Partners has projected Australia’s overall cannabis market – comprising medicinal, recreational and industrial hemp – will grow from an estimated USD$40 million this year to reach the USD$1.5 billion mark at mid-decade.

Public comments on Australia new CBD scheduling proposal are being accepted through May 22, with further discussion of the draft rules planned by health officials in June.

Get Hemp Industry Updates

* indicates required

Newsletter Signup

Subscribe to our FREE email newsletter & get the latest hemp industry news directly in your inbox.

* indicates required
Scroll to Top