Cannabis market in Thailand seen growing to US$1.2bil by 2025

Thailand decriminalised cannabis on June 9 to help kickstart the economy. - AFP

BANGKOK (Bloomberg): The combined market for medical marijuana and hemp in Thailand will expand by about 15% annually through 2025, when it’s likely to reach 43 billion baht (US$1.2bil), creating opportunities for growers and small businesses, according to the University of Thai Chamber of Commerce.

Thailand decriminalised cannabis on June 9 to help kickstart the economy, particularly in the agriculture, tourism and wellness sectors. But there have also been some complaints and reports of substance abuse, prompting Prime Minister Prayut Chan-o-cha to form a committee to assess usage and propose new regulations.