Marijuana could generate up to Bt8 billion for Thailand’s pharmaceutical industry over the next five years, but farmers stand to make little from growing the herb, experts say.

Last year, Thailand removed cannabis and hemp leaves from its list of banned narcotics (seeds and buds remain banned).

Individuals are still prohibited from growing marijuana for sale, though universities, community enterprises, medical professionals and traditional medicine practitioners can seek a licence to grow it commercially.

“We believe marijuana has great potential as a cash crop because more patients will start using marijuana-based drugs soon,” said Ravissa Suchato, an economist at Kasetsart University’s Agricultural and Resource Economics Department.

Ravissa led a study titled “Economic Impact of Commercialised Cannabis Cultivation in Thailand”, which was funded by the Thailand Science Research and Innovation (TSRI) and covered both traditional and modern medicine.

The study found that modern medicine has used marijuana to treat patients suffering from three key conditions – cancer, epilepsy and multiple sclerosis.

Two natural compounds found in plants of the cannabis genus, cannabidiol (CBD) and tetrahydrocannabinol (THC), are used in both traditional and modern medicine.

THC produces a sense of euphoria (a “high”), while CBD has been shown to help patients suffering from anxiety, depression and seizures.

In Thailand, cannabis-based medication is used for palliative care of cancer patients, not as a cure for disease, said Ravissa, adding that almost 1 million (996,743) patients are believed to have taken marijuana-based medicines in Thailand last year.

The post Multipurpose marijuana could light up another economic engine for Thailand  first appeared on Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world.

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand offers crypto tax waiver for companies’ investment tokens

In addition to more conventional techniques like debentures, companies would have access to investment tokens as an additional source of money

Thailand Spent $12.6 Billion to Handle COVID-19 Pandemic

From 2020 to 2022, the government covered the cost of treatment and vaccinations for all citizens, with the majority of the funding coming from the annual budget.

Thailand fails to attract foreign talents

Unlike Singapore (2nd), Thailand (75th) is not an attractive country for skilled professionals who want to move abroad, according to INSEAD’s annual survey, or Global Talent Competitiveness Index (GTCI).