Cannabis could become a major cash drop in Thailand. An expert says the cannabis-based medical 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 plants with very low traces of the “high-inducing” component tetrahydrocannabinol, or THC to be in medical 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.
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 a cash crop because more patients will start using marijuana-based drugs soon.”
Source: The Thaiger