Emerging Markets: Thailand

Until recently, Thailand had the highest rate of incarceration for drugs in Asia. Then, in 2022, the nation de facto legalized cannabis and is anticipating ฿28 billion ($745M USD) in cannabis revenue this year alone.

Here’s what happened:

Sources:

1. Maguire, P. (2018, April 30). Thailand’s Legendary Marijuana. The Diplomat. https://thediplomat.com/2018/04/thailands-legendary-marijuana/
2. Cannabis-infused food and drink products are not for everyone. (2022, June 30). Thai PBS World. https://www.thaipbsworld.com/cannabis-infused-food-and-drink-products-are-not-for-everyone/
3. Bush, A. (2022, August 30). Cannabis is now legal in Thailand, but it’s complicated: what travelers need to know. Lonely Planet. https://www.lonelyplanet.com/news/thailand-cannabis-guide
4. Wipatayotin, A. (2022, August 18). Anutin open to more relaxed laws on pot. Bangkok Post. https://www.bangkokpost.com/thailand/general/2370891/anutin-open-to-more-relaxed-laws-on-pot
5. Newsroom, T. (2022, July 14). Rules and regulations concerning cannabis and hemp use in Thailand. TAT Newsroom. https://www.tatnews.org/2022/07/rules-and-regulations-concerning-cannabis-and-hemp-use-in-thailand/
6. Wipatayotin, A. (2022, September 20). Anutin slams call to re-list cannabis as narcotic plant. Bangkok Post. https://www.bangkokpost.com/thailand/general/2395608/anutin-slams-call-to-re-list-cannabis-as-narcotic-plant
7. Sripiachai, P. (2022, September 23). Lack of rules hits farmers. Bangkok Post. https://www.bangkokpost.com/thailand/general/2398398/lack-of-rules-hits-farmers
8. Reuters. (2022, August 17). Pot-smoking tourists not welcome in Thailand: health minister Anutin.
   Bangkok Post. https://www.bangkokpost.com/thailand/general/2370686/pot-smoking-tourists-not-welcome-in-thailand-health-minister-anutin
9. Wipatayotin, A. (2022, August 17). Anutin: No social problems from decriminalised cannabis. Bangkok Post. https://www.bangkokpost.com/thailand/general/2370588/anutin-no-social-problems-from-decriminalised-cannabis
10. Arunmas, P. (2022, July 22). Cannabis valued at B43bn by 2025. Bangkok Post. https://www.bangkokpost.com/business/2351196/cannabis-valued-at-b43bn-by-2025
11. Reporters, O. (2022, July 9). Certificates issued to almost 1m people wanting to grow cannabis. Bangkok Post. https://www.bangkokpost.com/thailand/general/2342892
12. Olarn, K., Chen, H. (2022, June 9). Thailand just decriminalized cannabis. But you still can’t smoke joints, minister says. CNN. https://www.cnn.com/2022/06/09/asia/thailand-cannabis-legal-minister-interview-intl-hnk/index.html
13. Four Si Racha cops transferred for arresting woman with one cannabis plant. (2022, June 1). Thai PBS World. https://www.thaipbsworld.com/four-si-racha-cops-transferred-for-arresting-woman-with-one-cannabis-plant/
14. Yuvejwattana, S. (2022, July 21). Cannabis Market in Thailand Seen Growing to $1.2 Billion by 2025. Bloomberg. https://www.bloomberg.com/news/articles/2022-07-21/cannabis-market-in-thailand-seen-growing-to-1-2-billion-by-2025?leadSource=uverify%20wall