Connect with us

Australia & Asia Pacific

Substack Article: 2023: Can Thai Cannabis Become a Global Leader?

Published

on


This is one of the more informed articles we’ve recent read on the Thai market. Well worth a read

writes 20 Jan 2023

January 9th is the 7-month anniversary of the legalization of weed in Thailand. The Thai Cannabis Act was supposed to be passed by the time weed was declared legal. It was not. It is still not. That makes the Cannabis Act 7 months overdue. There is a media narrative that says legalization before regulation is the reason Thai legalization has failed. Has it?

An earlier version was published last week @ the site for a Thai cannabis startup I’m behind: https://cannabox.store/

Last year at this time, I predicted that Thailand would either provide transparent legalization of weed in 2022 or the campaign for cannabis legal reform will be dead by 2023. This year the question is whether the explosive growth of cannabis and hemp can be sustained.

In 2022: Cannabis On The Edge: The slow & possibly suicidal walk of Thai Cannabis, I said:

Thailand is attempting to “slow walk” full cannabis legalization the only way they know how, through misdirection and vague talking points that don’t add up. The term slow walking is used to refer to states in the US that kicked off their cannabis sector with medical marijuana, with strategic minds reckoning that, once the political culture adjusted to the change, they would be open to the lifting of cannabis bans more broadly.

The tactic is copied to this day. And it has worked astonishingly well. Global cannabis sales will exceed USD 37.4 billion in 2021. Total cannabis sales are estimated to reach USD 102 billion by 2026.

We’ll know how Thailand handled its cannabis moment of opportunity by the end of 2022.

It turns out that Thailand’s slow walk was not suicidal at all. And here at the beginning of 2023, we do indeed know how Thailand handled cannabis.

Rational exuberance over legal weed has been answered by a crush of retailers hoping to become the type of store earning $10,000 USD a day, every day.

“Rational”, in that people are willing to pay a premium to be the first to casually buy weed in the same tropical paradise that has warned cannabis lovers for decades that possession can lead to decades in prison.

“Exuberance”, in that it is thrilling to witness and participate in the first moves of the Asian cannabis revolution. The tectonic shift in cultural norms and personal freedom that will spread globally throughout the 2020s begins here.

Of course, exuberance, whether rational or not, is fleeting: before the retail markets stabilize, many weak dispensaries will be on the chopping block.

2023 will be the year of the rout of Thai dispensaries. Many cannabis dispensaries will be forced to close. The reason will not be, as many legal experts predicted, government coercion. Few will run afoul of the law; for those who do, one can assume that they were failing to comply with a few simple, affordable requirements.

Up until December 2022, there existed virtually no barrier to entry. 5000 dispensaries later or, as locals say, now that there is a dispensary “on every corner and another one between the ones on the corners”, retail licenses are no longer available.

The days of poorly planned dispensary businesses are numbered — to roughly 120 to 150; the upside is, today, Thai cannabis growers, manufacturers, retailers and consumers are among the freest friends of cannabis on earth (at least domestically).

And ganja lovers should remain free, even if the few proposed additional restrictions on flower sales ever manage to appear in the chronically absent Cannabis Act. For now, Thai weed and CBD are booming; Thai hemp is just beginning to stretch its wings globally.

Last April, I told the Guardian that I was optimistic that cannabis will help Thailand rebuild its economy post-Covid. “Nothing as small as the cannabis sector can save [an economy], but I think it could provide a spark.”

I think the data will support that this is what we see happening currently. Thai cannabis has successfully provided the spark to the sputtering economy. Let’s break down the impact of this successful legal reform — that extends beyond dollars and cents:

  1. Low-income patients get the cannabis they need.
  2. In less than one year (not counting people who have been in cannabis for a long time) Thai cannabis created 100,00 jobs.
  3. Over 3,000 men sentenced to years in jail for cannabis are now free.

All 3 impressive social benefits were manifested from cannabis legalization that raced ahead of the bureaucrat and the tax collector.

At least the small dispensaries that will stay and struggle can fight without one hand tied behind their backs. In the Kingdom with legal cannabis, there are no random special extra taxes, no costly restrictions and no banning businesses from the banking system.

Read the full article at  https://carlklinn.substack.com/p/2023-can-thai-cannabis-become-a-global



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Australia & Asia Pacific

Australia – Crikey Article: Is NSW ready for cannabis reform? Weed activists prepare for the election

Published

on

By


Cannabis enthusiasts are preparing to mount a campaign for the NSW Parliament, hoping to recreate the high from the recent Victorian state election where weed reformers captured two upper house seats.

The Legalise Cannabis Party will announce several candidates for the NSW election next month, hoping to target select regional lower house seats held by conservatives from both the Coalition and Labor, party chairman Craig Ellis told Crikey.

“It’s going to be a quite high-profile campaign,” Ellis said. “The general public knows it’s time that NSW and Australia just get on with it and regulate and legalise cannabis.”

Read more at  https://www.crikey.com.au/2023/01/19/cannabis-reform-nsw-election/



Source link

Continue Reading

Australia & Asia Pacific

Well that didn’t last long ! Rhys Cohen quits Cann Group for Penington Institute

Published

on

By


It all seems to be going wrong at Cann Group this week..

Cann Group senior corporate communications manager Rhys Cohen has left the company to join the Penington Institute as global partnerships and engagement advisor.

Cohen resigned before Christmas having joined Cann in April 2022 after stints with FreshLeaf Analytics, Cannabiz – where he was editor-at-large – and his own consultancy.

n

Writing on LinkedIn, he said: “While I’m sad to be leaving, I feel now is the right time to expand my focus onto other drug policy issues in addition to medicinal cannabis.

“The transformation of Australia’s medicinal cannabis framework that I’ve witnessed in my seven years working in the industry has been astounding. [Although] there are still many challenges facing patients, it’s humbling to look back on how far we’ve come.

“But while tens of thousands of Australians are now legally accessing medicinal cannabis every year, just as many, if not more, are being arrested and dragged through the courts simply for possessing small amounts of cannabis for personal use.

“We spend nearly A$2 billion every year criminalising cannabis, while at the same time thousands of Australians using other drugs tragically lose their lives to overdoses that could have been prevented through implementing evidence-based drug policies.

“Our priorities are backwards and that needs to change, so I’m excited to work for an organisation dedicated to making that change happen.”

Last week, Cann announced the appointment of former Ipsen boss Peter Koetsier as its new CEO, replacing Peter Crock, who resigned in October 2022.

Rhys Cohen quits Cann Group for Penington Institute



Source link

Continue Reading

Australia & Asia Pacific

Cann Group over-the-counter CBD trial fails the placebo challenge

Published

on

By



Watch the share price plummet… Cannabiz Australia reports Read more https://www.cannabiz.com.au/blow-for-cann-group-as-over-the-counter-cbd-trial-fails-to-show-efficacy-for-sleep-disturbance/?utm_medium=email&utm_campaign=Cannabiz%20newsletter%2019123&utm_content=Cannabiz%20newsletter%2019123+CID_5dc2678a593ba47230e6346cd4011f63&utm_source=CampaignMonitor&utm_term=READ%20MORE



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media