Legal & Regulatory

Thailand drops cannabis from the narcotics list

Thailand officials have removed cannabis from its narcotics list, the latest effort to promote its development for medical purposes. The intention is to allow extracts to be used in medicine, cosmetics and food. So far, only hospitals and research facilities are allowed to apply for licenses to develop medical extracts from cannabis, but businesses see an opportunity.

Thailand’s Ministry of Public Health announced that the Cabinet has agreed to remove cannabis from the narcotics list.

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United Nations Commission cannabis session

The measure comes one month before the 63rd session of the United Nations Commission on Drugs and Narcotics, to be held from March, 2d to March, 6th in Vienna. In the provisional agenda of the session, item 5 (a) will discuss the control of cannabis substances, in particular, the recommendations concerning the listing of cannabis and cannabis-related substances in the tables of controlled substances.

Cannabis effects on medicine

The regulation also states that scientists are thus in a position to conduct research on the effects of cannabis on medicines, cosmetics and the plant in its natural state, in accordance with Thai government policy. Above all, the measure is intended to increase the competitiveness of the country’s production. “Preliminarily, this regulation allows the cultivation of cannabis plants by individuals and companies, subject to trade and possession conditions,” said deputy government spokesman Traisulee.

Traisulee also made it known that according to the regulation “cannabis plants can be grown on a maximum of one Rai per family” (1 Rai = 1,600 square meters), adding that “producers must be licensed and grow only the species specified in the new regulation.”

Thailand is creating Dr. Ganja application

The presentation of this new regulation was not the only novelty on the part of the Ministry of Health in Thailand, which introduced Dr. Ganja. It is a green, soft toy to help educate the Thai population about the benefits of medical cannabis. Dr. Ganja also represents the symbolism of the recent implementation of medical cannabis in Thailand.

Statistics show that the recent cannabis industry could, by 2024, expand to over $660 million. The figures and the economic potential are reasons to convince the Thai Deputy Prime Minister, Anutin Charnvirakul, who is one of the biggest leaders and supporters of the pro-cannabis movement for medical regulation.

Local hospitals to transform into medical cannabis leaders

Thailand seeks to expand indoor cannabis cultivation in order to reach one million bottles of cannabis oil by February 2020. (Source)

It is based on this scenario that the Deputy Minister plans to add cannabis plantations and processing facilities. Plans are also to expand local hospitals to become leaders in medical cannabis. Thanaporn Pornsangakul, a scientist at the Center for Plant Development by Plern, is responsible for growing and supplying medical cannabis plants to the only internationally accredited hospital in Buriram. “There are so many people interested in growing cannabis,” he said.

The Thai government has invested $3.3 million (100 million Thai baht) in the first indoor growing facility, which was opened last year, In addition to 12,000 cannabis plant seedlings, according to Prohibition Partners consultants. The plan to prepare one million bottles of cannabis oil by February 2020 “shows ambition” on the part of the Thai government, the company added.

“Thailand has shown itself to be a leader in drug law reform among Asian countries, especially in relation to medical cannabis,” according to Barbara Pastori, consulting director at Prohibition Partners. “This is also likely to be the case with recreational cannabis, especially if there is a strong political will to do so,” the consultant added.

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(Featured image by Mathew Schwartz via Unsplash)

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Eva Wesley

Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.

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