Thailand cannabis prices fall amid oversupply and legal issues

Thailand's cannabis industry is currently experiencing a significant decline in prices due to an oversupply of products. The price of dried cannabis flowers has plummeted to below 2,000 baht ($58.29) per kilogram, while international markets can command prices as high as 100,000 baht per kilogram. Some cultivators are adopting Aeroponic technology to enhance their production and reach these lucrative markets, with companies like Oriental Plantation Co., Ltd. already securing orders from countries such as Australia and Germany. Despite the potential for growth, the industry is grappling with legal uncertainties. Following the removal of Prime Minister Srettha Thavisin from office, new Prime Minister Paetongtarn Shinawatra has expressed skepticism about the benefits of marijuana legalization. This shift in leadership raises concerns about the future regulatory landscape for cannabis in Thailand, as previous discussions had leaned towards proper regulation rather than recriminalization. In parallel, Pakistan is exploring the economic potential of cannabis, with discussions in the Senate highlighting its global market value of $30 billion. The establishment of the Cannabis Control and Regulatory Authority (CCRA) aims to oversee the licensing of growers and sellers, as well as to regulate cultivation practices. The CCRA's framework includes strict THC limits to prevent misuse of medical products, with significant penalties for violations. Overall, both Thailand and Pakistan are navigating the complexities of cannabis regulation and market dynamics, with Thailand facing immediate price challenges and legal uncertainties, while Pakistan is laying the groundwork for a regulated cannabis industry.