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cannabis seed company owner arrested in thailand

Thailand first legalised registering medicinal marijuana in 2019, but in January restrictions were loosened to open the gates to various products and usage. Restaurants and cafes sprung up cooking hemp dishes, and bars created hemp-infused cocktails. People can now get a permit to grow hemp and manufacture and sell cannabis products. Thai law still treats hemp and cannabis differently as hemp is almost completely free of THC and is traditionally used for making clothes, rope, paper and similar products from its strong fibres.

SOURCE: Nikkei Asia

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Ichitan admits that the cannabis used in their drinks aren’t fully legalised yet, though they expect the entire supply chain and process to be approved soon as the cannabis legalisation trend grows around the world. Farming is still only allowed with strict government observation, and the narcotic use of ganja is only allowed for cultivation, research and medical use.

These cannabis drinks are selling for 30 baht across Thailand in 7-11 stores, malls, conveniences stores, and more than 13,000 vending machines. Ichitan is hoping to sell 500 million baht worth of the teas this year as the first company to nationally mass market cannabis products. Their CEO said the “urban new generation” is their target demographic and that being first to market is an important strategy.

But in Thailand, the government sees huge potential, with MFC Asset Management planning Thailand’s first hemp-related mutual fund with expectations of over 17% annual growth over the next 5 years. Farmers could grow hemp and cannabis with large profits, and the Thai government is even eying a tourism boost for medical tourism and just plain curious travellers.

SOURCE: Bangkok Post

Wednesday, March 24, 2021 at 7:26 pm

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“Now we have only four strains of hemp developed for higher fibre yield, but not for the strain for higher CBD that is currently required for cosmetics and healthcare products. That is why we do need to actively develop such a strain to respond to the high demand in the market.”

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