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Cannabis industry threatened by legalization rollback

The uncertain future of Thailand’s cannabis industry is due to the government’s deliberation on whether to re-regulate the plant solely for medical purposes. Key takeaways include the thriving cannabis industry since decriminalization, potential new regulations impacting recreational use and livelihoods, and the hope of cannabis vendors to continue operating under any new rules.

The future of the industry remains uncertain, with possibilities of stricter regulations on recreational use, a shift towards medical-grade cannabis, and potential exclusion of small farmers and businesses in favor of larger corporations. Although Thailand legalized marijuana for medicinal purposes in June 2022, the absence of specific laws regulating cultivation and sale has allowed for the development of a recreational cannabis industry. Currently, the newly appointed Prime Minister suggests that cannabis will likely be legal only for medical use. This has sparked concerns among cannabis vendors, who fear losing their businesses.

Numerous individuals have registered with the government to grow cannabis, and many cannabis vendors have opened throughout the country. The government’s plan to classify cannabis as a medical product may result in stricter regulations that could impact the livelihoods of those in the industry. While some cannabis activists advocate for responsible access to cannabis, others worry that only a few large corporations will benefit from the new regulations.

Thailand’s move to decriminalize cannabis sets it apart from other Asian countries that still enforce strict penalties for cannabis offenses. Reclassifying cannabis as a narcotic could drive underground recreational use and harm the country’s emerging industry.

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SOURCE: http://thailand-business-news.com

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