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Thrive Market to pull CBD products

Online natural and organic grocer Thrive Market plans to stop selling hemp- and cannabidiol (CBD)-based products in response to a request by its merchant processor.

CEO and co-founder Nick Green, who was named one of SN’s Disruptors for 2019 , announced the move this week in a letter to customers and employees that was posted on Thrive’s blog.

“In early June, we received a notice from our merchant processor demanding that we cease the sale of all hemp and CBD products on Thrive Market,” Green wrote in the June 17 letter. “We unfortunately have no choice but to comply, and we’ll begin removing our assortment as early as Thursday, June 20.”

A membership-based retailer, Thrive began carrying a full assortment of hemp-based supplements and topical products about 18 months ago, making it the nation’s first national e-commerce retailer to do so, according to Green.

“Our decision was based on our review of the health research on CBD, the input of hundreds of our members and the changing legal landscape that was finally recognizing what hemp farmers, scientists and informed citizens have long known — that hemp is not the same thing as marijuana and that CBD is neither psychoactive nor harmful,” he said in the letter.

The Agriculture Improvement Act of 2018, or the Farm Bill, enacted in December, removed hemp from the list of Schedule I controlled substances, Green noted, adding that only Idaho and South Dakota currently maintain bans against hemp products.

“Over the last year, our decision to take a leadership position on hemp has been validated over and over,” he said.

Thrive gives an overview of its hemp and CBD offerings on its website. The selection includes oils, extracts, pills, capsules, creams and balms from such brands as Charlotte’s Web and Irwin Naturals as well as a Thrive Market brand.

Under current law, CBD and THC (or tetrahydrocannabinol, the psychoactive compound found in cannabis) can’t be added to a food or marketed as a dietary supplement. However, at the end of May, the Food and Drug Administration held hearings to examine the potential deregulation of CBD from hemp within food and other products and to help clarify existing regulations.

The U.S. hemp-derived CBD market could grow to a $6 billion industry with the legalization of sales of food and beverages containing CBD from hemp, according to Nielsen. The market researcher reported that future CBD consumers may look to CBD-infused food offerings to promote health and wellness, including to enhance focus and relaxation as well as to alleviate certain ailments such as feminine pain, digestive problems and sleep disorders.

“We believe that ethical and sustainable hemp is another cause worth fighting for, so rest assured that we will be working behind the scenes in the coming weeks to get hemp products back on Thrive Market,” Green noted in the letter. “In fact, we’re already in conversations with a new processing partner to try to make that happen.”

Los Angeles-based Thrive Market has more than 500,000 members.

Online grocer says it’s complying with demand from merchant processor

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  • by Tanya Gazdik , August 5, 2019

Online natural and organic grocer Thrive Market is returning hemp- and cannabidiol (CBD)-based products to its virtual shelves.

The retailer was forced to stop selling such items in June in response to a request by its merchant processor.

CEO and co-founder Nick Green, announced the return in an email to customers today along with plans to expand the assortment even further.

“Back in June, I shared some disappointing news with you: Due to an internal policy decision at our then-payment processor, we were being required to take down all products containing hemp / CBD from Thrive Market,” Green writes. “While we had no choice but to comply, I promised you that we would do everything we could to get hemp products back on Thrive Market — even if it meant changing our processor. Well, I’m pleased to announce that over the last six weeks, we’ve successfully done just that.”

A membership-based retailer, Thrive began carrying a full assortment of hemp-based supplements and topical products about 18 months ago, making it the nation’s first national ecommerce retailer to do so, wrote Green in the blog post.

The U.S. hemp-derived CBD market could grow to a $6 billion industry with the legalization of sales of food and beverages containing CBD from hemp, according to Nielsen.

“Under current law, CBD and THC (or tetrahydrocannabinol, the psychoactive compound found in cannabis) can’t be added to a food or marketed as a dietary supplement,” according to Supermarket News. “However, at the end of May, the Food and Drug Administration held hearings to examine the potential deregulation of CBD from hemp within food and other products and to help clarify existing regulations.”

Los Angeles-based Thrive Market has 500,000 members.

“I want to personally thank all of you who have emailed, called, chatted, and DM’d your words of support over the last several weeks,” Green wrote in today’s email. “Hearing your stories of how CBD has positively impacted your lives, and enhanced your (and your loved ones’) general wellbeing reinforced why we started carrying hemp products in the first place — and why it was so important to take a stand against a policy based more in fear and ignorance than sound legal reasoning or science.”

Thrive Market To Offer CBD Items Again – 08/06/2019