Connect with us

Thailand

Cannabis could generate 8 billion baht for Thai pharmaceutical industry by 2025, expert says

Published

 on 

Cannabis could become a major cash crop in Thailand. An expert says the cannabis-based medicinal products could generate up to 8 billion baht for the Thai pharmaceutical industry by 2025. Medical cannabis has been legal in Thailand for the past couple years, but recently the government agreed to allow parts of the plant with very, low traces of the “high-inducing” component tetrahydrocannabinol, or THC, to be in medicinal products and food.

Cannabis-based medicines have been used as palliative treatment for some cancer patients in Thailand. Last year, nearly 1 million patients used cannabis-based medicines, according to an economist at Kasetsart University’s Agricultural and Resource Economics Department, Ravissa Suchato.

Around 1.2 billion baht worth of medical cannabis was consumed last year, according to Ravissa, who led a recent study on the economic impact of commercial cannabis cultivation in Thailand. If the average consumption rises as expected, medical cannabis could generate 8 billion baht within the next 5 years.

“We believe marijuana has great potential as a cash crop because more patients will start using marijuana-based drugs soon.”

In the past, Thai officials have discussed the opportunity to tap into the global cannabis market by exporting medical cannabis, but Ravissa says Thailand still has a way to go.

“Globally, the recreational use of marijuana has risen a lot faster than pharmaceutical use, so the prospect of exporting marijuana-based medicines from Thailand is still a long way off.”

Parts of the cannabis plant that are rich in THC, like the buds, are still illegal and classified as a Category 5 narcotic. Trafficking the plant is still heavily criminalised. Just over the past few days, border patrol police in the Northeastern province Nakhon Pathom seized hundreds of kilograms of dried, compressed cannabis believed to have been trafficked across the Mekong River from Laos and destined for the South, possibly to Malaysia.

SOURCE: Thai PBS

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

3 Comments

3 Comments

  1. funny coz its true

    Wednesday, March 3, 2021 at 7:50 am

    Should be legal by now, the only reason it’s not is they are still fighting over the largest slice of the pie

  2. Dreqo

    Wednesday, March 3, 2021 at 11:36 am

    It’ll never be legal for anyone but corporate interests here. The commoners won’t be allowed to partake.

  3. Frank Nuyts

    Saturday, March 13, 2021 at 5:53 pm

    The chemical research in Thailand is awesome ! Cbd helps during chemotherapy , epileptic seizures,parkinson,cancer,etc. Many thanks to Thai research !!!!

You must be logged in to post a comment Login

Leave a Reply

Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

Follow Thaiger by email:

Crime12 hours ago

VIDEO: Thieves mess with the wrong gold shop owner in northern Thailand

Thailand13 hours ago

Thailand News Today | Immigration Police to Revise Visa Extension Criteria

Expats13 hours ago

Pattaya visa legend dies of cancer

Sponsored19 hours ago

Where you can get cannabis in Bangkok

Tourism13 hours ago

Transport officials expect tens of thousands of bus travellers in Thailand during three-day weekend.

Phuket14 hours ago

Chinese tourist found dead in Phuket

Crime14 hours ago

Overstaying former pro footballer arrested for hawking lottery tickets in Thailand

Join the conversation on the Thaiger Talk forums today!
Thailand14 hours ago

Twitter investigation discovers mass censorship & blacklisting under previous regime

Thailand14 hours ago

Brief history of the Japanese Onsen in Thailand

Patong15 hours ago

Officials say no to floating lanterns and fireworks on Patong Beach

Protests15 hours ago

Teen protestor claims police harassment

Thailand15 hours ago

Thailand’s Full Moon Party attracts 12,000 tourists

Media16 hours ago

License to own unicorn issued by LA animal care authority

Hot News16 hours ago

Eight celebrities to join Japanese tycoon in space venture around the moon

North East16 hours ago

In northeast Thailand, a pretty camping site is being offered for free

Weather17 hours ago

Flash flood warning issued for 9 provinces in southern Thailand

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending