According to the governor of the Tobacco Authority of Thailand (TOAT), the business value of cannabis and hemp could reach THB 10 billion ten (USD 315 million), which can compensate the state-held TOAT for a decline in tobacco income stemming from a decline in consumption in Thailand.
TOAT has already discussed with the State Enterprise Policy Office and the Office of the Council of State for TOAT to be involved with cannabis and hemp businesses. Thailand’s Food and Drug Administration (FDA) is also pushing to expedite the listing of cannabis in the National List of Essential Medicines,
Additionally, major Thai companies have also signaled their plans for hemp. For example, CP Foods, a subsidiary of Charoen Pokphand Group, Bangkok, said it is partnering with Maejo University to develop a hemp-based ready-made food line it expects to launch in 2021.
Another leading Thai company, DOD Biotech, said it is developing supplements and skincare products with hemp, partnering with leading retailers including Rojukiss Internation, Beauty Community, and 555 Shopping Company.
(Sources: National News Bureau & Public Relations; Bangkok Post; Hemp Today)