Thailand: A New CBD Market with Opportunities For Global CBD Companies and Investors
Author: Jeffrey Friedland (email@example.com)
December 1, 2019 - CBD is now legal in Thailand following action by the country’s Ministry of Public Health.
CBD oil, with less than .1% THC and which is at least 99% pure is now allowed, and the oil, extracted from cannabis or hemp is no longer a narcotic under Thailand’s Narcotics Act of 1979.
While these standards are more stringent than in the US, where CBD from hemp can contain up to .3% THC, it is a significant move by the Thai government. It is a start in opening the country, with a population of almost 70 million, to medical cannabis that includes THC.
While this legalization of CBD is a tremendous step for Thailand, the sales, imports, exports and possession of any extracts from both cannabis and hemp will be highly-regulated.
CBD oil producers are required to have cannabis production licenses, which are required to process what the regulations view as “narcotic cannabis” into “legal” CBD oil.
Currently, there only a few licensed producers in the country, all of which are either governmental entities or both private and public universities.
It’s likely that clarity regarding the laws and regulations regarding patient access of the CBD oil will be forthcoming. But, it appears that CBD oil prescribed by a doctor trained in the use of cannabis as a medicine, of which there are approximately 1,200 in the country, will be able to prescribe the CBD oil.
Opportunities for Foreign CBD Producers and Global Investors
Thailand’s legalization of CBD is providing a significant business opportunity for foreign CBD producers and global investors. Thailand’s Ministry of Public Health’s new rule also enables both local and foreign investors to invest in the manufacturing of CBD oil from both hemp and cannabis.
The big question is how quickly Thais will be able to actually purchase CBD oil.
The new regulations do not allow imports of CBD oil derived from cannabis or hemp, but not until 2024, five years from now. This was likely done to enable Thailand to develop its own cannabis-derived CBD industry, without domination by foreigners.
A big opportunity for foreign CBD producers and to some extent by global cannabis investors is the ability to participate in the country’s new industry, through investments, strategic alliances and providing expertise.
About Phyto Intel
Phyto Intel provides strategic assistance to enable businesses and entrepreneurs to enter and succeed in the fast-growing and fast-evolving legal cannabis, hemp and CBD markets in the United States and globally.
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Copyright 2019 - Jeffrey Friedland
Phyto Intel LLC
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