Thailand has high hopes cannabis can cure the coronavirus blues, but for grass roots it’s a buzzkill
- Legalisation of hemp products means cannabis cookies and CBD medicinal oils could boost the mood of an economy laid low by Covid-19
- Investors and tycoons will feel the high but grass roots farmers without the right connections will be left feeling low, critics say
But buzzkill critics warn it is investors and tycoons that stand to benefit from Thailand’s “green rush”, rather than ordinary workers and farmers who have seen their incomes shredded by Covid-19.
While Thais have for generations used cannabis leaves in noodle soups and for pain relief – with the plant growing best in the elevated, pH neutral soils and balmy temperatures of the country’s north and northeast – it is only recently that cannabis products have been legally available.
Thailand legalised the use of cannabis, also known as marijuana, for medical purposes in 2019, after years of tortured discussion. However, it was not until January of this year that a further law change paved the way for a commercialisation of the industry, with licence holders now able to grow, sell and export goods made from the stems, leaves and roots of hemp – a variety of the cannabis plant grown specifically for industrial use.
Consequently investors are now salivating at the prospect of a Thai weed empire as cannabis products ranging from CBD oils for pain relief to hemp snacks and soaps finally hit the market.
“Thailand is going to be a US$50 billion [cannabis] business, from growth and extraction [of CBD] to products in the next five years,” said Tom Kruesopon, a veteran Thai investor.