Thailand’s Cannabis Gold Rush – Cannabis News, Lifestyle

Cannabis dispensaries are popping up in Thailand as the country experiences a cannabis gold rush. The kingdom decriminalized cannabis last month. Thai residents can now grow at home and sell paraphernalia at pop-up stalls on the street.

Thailand’s Cannabis Gold Rush

Thailand’s cannabis gold rush is due in part to the government removing the substance from a list of banned narcotics. On June 9, 2022, Thailand legalized cannabis to make it easier for medical patients. Technically, smoking high-THC cannabis recreationally is against the law.

But that hasn’t stopped Thai residents from selling pre-rolls, cannabis-infused beverages and edibles like cannabis-infused Sriracha hot sauce. Cannabis-inspired pop-up stands and booths have taken over the country. The hashtag #saikiew or “Green Way of Life” is trending on social media.

Reports from the Southeast Asian country suggest the government is in no position to put the legalization genie back in the bottle.

Health Minister Anutin Charnvirakul tried to clarify the laws last week:

“The whole plant is no longer (a) narcotic,” he told reporters, “only the extract — not the flowers, the trees, or the roots” with “less than 0.2 percent THC” can be used.

Still, tens of thousands of small farmers have registered to grow legally. At the same time, many others are testing their green fingers at an unregistered home farm.

Thailand’s Cannabis Wild West

Thailand’s cannabis gold rush could be short-lived if the government feels pressure to curb the free-for-all. Others are concerned that the initial rush is hype and that many of these cannabis companies won’t stay afloat once the dust settles.

The biggest threat, however, comes from a corporate takeover. If the Thai cannabis market remains so liberal and open, it could be worth billions of dollars. No doubt global pharma and agribusinesses will move in. By purchasing thousands of acres of land to grow, a takeover could curb the cannabis economy before it can grow.

Another problem with Thailand’s cannabis gold rush is that high-potency THC is still technically illegal. At the moment, all cannabis strains native to Thailand are low in THC and high in CBD. And the government only wants high-CBD strains in production.

In Thailand, however, the demand for strong cannabis is high. Right now, Thailand’s appetite for high-THC cannabis is being fed by illegal imports from the US. The price premium for high-potency cannabis is also resulting in many Thai residents being locked out. A gram of premium THC cannabis costs 700 baht (or almost $20).

Thailand’s cannabis bubble?

While high prices may push more cannabis growers into the field and prices drop, some are wondering what the outcome of Thailand’s cannabis gold rush will be. As one Thai dispensary owner told Al Jazeera:

“Suddenly a ‘drug’ becomes a business person and a bedroom grower becomes a master grower…anyone who takes a selfie with some weed won’t stop ringing their phone the next day when people ask them for help entering the market.”