Thailand Removes Low-potency Cannabis Extracts From Banned Drugs List
The amendment to Thailand’s Narcotics Act removes CBD extracts containing less than 0.2 percent THC from the
Law change intended to allow extracts in medicine, cosmetics, and others
The decision to remove low-potency cannabis and hemp extracts from Category 5 was done “to allow extracts to be used in medicine, cosmetics, and food and support hemp as a cash crop,” Tares Krassanairawiwong, secretary-general of the Food and Drug Administration in Thailand, told
The decision to legalize cannabis extracts containing less than 0.2 percent THC is on par with similar limits in
In November last year, Thailand became the first south-east Asian country to
According to figures from
The total Asian cannabis market, the firm predicts, could be worth as much as $8.5 billion USD by 2024 if the trend of softening cannabis laws continues in Asia through the next five years.
In Thailand, licenses to research and develop these low-potency cannabis extracts will be limited to hospitals and research facilities, but government officials are currently reviewing regulations that would
A short history of cannabis law in Thailand
In the not-so-distant past, Thailand was the picture-perfect example of a nation determined to take a hardline stance on drugs – no matter the cost.
Sixteen years ago, Thailand’s then-prime minister Thaksin Shinawatra aimed at tackling the country’s widespread illicit use and distribution of methamphetamine, or ya ba (ยาบ้า), as it’s known in Thailand. Within the first three months of the campaign, there were some 2,800 extrajudicial killings in the country as a direct result of the drug war – that’s on average 30 killings a day. Incredibly, a 2007 investigation later found that
Since then, Thailand’s attitude towards drugs changed dramatically. The violent drug war gave way to a decade of mass incarceration, which by 2016 had caused
“The world has lost the war on drugs, not only Thailand,” Paiboon told
What Thailand was ready for, the government would later decide, was legal cannabis.
Investors poised to jump into the Thai domestic cannabis market
One concern for Thai lawmakers who removed low-potency cannabis from the country’s narcotics list was that large multi-national corporations might try to monopolize the Thai medical cannabis product market.
As a result, the government has decided to limit all cannabis production, cultivation, and sales
Despite these restrictions on international business, foreign investors are already looking to get involved in the Thai market by