Italy's CBD Twist: A Step Back Amidst Booming Global Green Gold?

Benzinga ·  09/15/2023 09:57

The Italian government has controversially reclassified cannabidiol (CBD) as a narcotic. This latest development is another twist in the ongoing regulatory saga around the hemp-derived compound in the European country. Despite the global CBD market forecasting a growth from 4.9 Billion in 2022 to 47.22 billion by 2030, Italy seems to be taking a step back. The current anticipated CAGR for the industry stands at 21.2%. See Also: Italy Sparks Controversy by Reclassifying Oral CBD as a Narcotic: Uncertainty and Debate in the European Market Background Historically, the regulatory position in Italy has been inconsistent. In 2020, a decree was issued tagging CBD as a

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