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  • The paranoia is very real for Thailand's cannabis industry.

  • Since recreational use became legal in mid-2022, Thai cannabis activist group Hyland Network estimates at least 195 million USD has been invested with 7000 dispensaries like this one opening.

  • The government is now planning to kill the bars with a ban on recreational use planned by the end of the year.

  • It feels like they don't understand what cannabis is and what is the benefit and what is not.

  • And this is quite a knee-jerk reaction.

  • A 2022 report from the University of the Thai Chamber of Commerce predicted the cannabis industry will be worth $1.2 billion by 2025.

  • It's also credited with propelling a revival in tourism after COVID-19.

  • Regulation, however, failed to keep up with industry enthusiasm.

  • The sudden boom leading to increasing concerns about the risk of social harm.

  • I cannot deny that it's a good economy for a lot of people and it's good for tourism for for some part as well.

  • But the social problems that arise and you know that parents are scared of their children getting their hands on marijuana is like it gives us no better option but to put marijuana back.

  • Under the law being considered by cabinet this month, anyone caught smoking cannabis could face fines of up to 60,000 baht. That's about 1600 US dollars.

  • Sellers could face fines of almost double that, a year in prison or both.

  • The law won't return cannabis to the status of an illegal narcotic, but it will require growers and sellers to abide by stricter rules and higher standards based around medical use.

  • Simply put, you'll still be able to sell buds, but only for medical use and health benefits.

  • Recreational use will be banned.

  • Thailand's health minister says the intention is to drive the economy, but not at the expense of public health.

  • Paul Allen, Bloomberg.

The paranoia is very real for Thailand's cannabis industry.

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