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Thailand: What the new coalition govt. could mean for the cannabis market

More than a year after Thailand legalized the recreational use of cannabis, the country’s new prime minister plans to roll back that law in an attempt to end the current glut in the market and bring long-term benefits to the industry.

In June 2022, the Southeast Asian nation became the first in Asia to decriminalize the cannabis plant, allowing it to be grown and consumed freely. Since then, the weed market has turned free-for-all as various businesses entered the sector with little regulatory or consumer guidance to oversee such activity.

Thai cities are now home to scores of dispensaries, many of which sell recreational products containing more than the legal amount of 0.2% tetrahydrocannabinol (THC) content allowed. Moreover, not every shop has the required license, and while the law stipulates that cannabis can only be consumed by individuals aged 20 and above, that’s not always enforced.

All this has sparked major backlash from locals who have been calling for tighter legislation. In a recent interview with Bloomberg, Prime Minister Srettha Thavisin, who took office last month, said his administration would limit cannabis use to medicinal purposes only.

Read more at cnbc.com

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