Thailand’s cannabis industry faces an uncertain future as the Move Forward Party plans to return cannabis to the control list.
Key Takeaways
- Thailand’s cannabis industry is facing uncertainty as the government-in-waiting plans to return cannabis to the control list, potentially sending the industry from boom to bust.
- The Thai cannabis market was worth 28 billion baht ($800 million) at the end of 2022 and projected to grow to 31.8 billion baht this year.
- The Move Forward Party, which won the May 14 election, plans to introduce legislation that would prevent negative public perceptions and provide compensation for authorized operators.
Thailand was one of the first countries in Southeast Asia to legalise cannabis for medical and research purposes in 2018. This move sparked hopes for a booming cannabis industry that could benefit local farmers and entrepreneurs. However, recent…
