Thailand set to cash in on multi billion baht medical ganja market - more if it turns recreational

[webfact]

Thailand set to cash in on multi billion baht medical ganja market - more if it turns recreational

 

File photo

 

Thailand is set to play a part in what strategic analysts are calling a major boom in the ganja market in Asia.

 

Strategic consultants Prohibition Partners said out of London last week that the Asian medical ganja market is set to be worth 5.8 billion US dollars by 2024.

 

It could be worth 8.5 billion if recreational use is added.

 

Major players are China, Japan, India, South Korea and Thailand. 

 

Med Hub News reported on the enormous potential for profits to be made in the drug with tens of millions of potential medical cannabis users and millions more recreational users in the region especially in India. 

 

Reports have suggested that the Thai market could be worth 21 billion baht. 

 

 

-- © Copyright Thai Visa News 2019-05-14

Follow Thaivisa on LINE for breaking Thailand news and visa info

[PatOngo]

13 minutes ago, webfact said:

It could be worth 8.5 billion if recreational use is added.

Enough talk, get those profits rolling in.

[briansbiology]

That is just too much money for the pigs in trough not to notice. then the wall of ignorance can be scaled and one of life's liberties returned. 

[doggie1955]

But there is "BIG" money coming into Thailand to slow it down, and so far it has been working. Every day Thailand is losing millions, and that is good news for China, India. There is no reason why Thailand is not growing now, now the GOV FDA is talking about maybe next year.

 

[ChipButty]

1 hour ago, PatOngo said:

Enough talk, get those profits rolling in.

Roll me joint better idea

[Jane Dough]

This is one area of Thailand many of us would love to see go up in smoke.

 

Rooster

[Bkkjimbo]

Some odd numbers. 5.8 medical and just another 3 with recce. More like 15bn recreational. Tourism would scale like never before. Amsterdam of Asia.

[Vacuum]

2 minutes ago, Bkkjimbo said:

Some odd numbers. 5.8 medical and just another 3 with recce. More like 15bn recreational. Tourism would scale like never before. Amsterdam of Asia.

Yes, but:

 

Quote

recreational users in the region especially in India

Meaning, it'll not be legal in Thailand. At least during our lifetime.

[Misterwhisper]

I guess quite a number of... uhm... joint ventures are going to be formed to cash in on that expected windfall.

[DrTuner]

Counting the seconds..

[Justgrazing]

3 hours ago, webfact said:

India

It ain't half pot mum ..

[Hayduke]

5 hours ago, webfact said:

Thailand is set to play a part in what strategic analysts are calling a major boom in the ganja market in Asia.

 

One way or another...they'll manage to screw it up.

 

 

 

[Guitar God]

4 hours ago, Vacuum said:

Yes, but:

 

Meaning, it'll not be legal in Thailand. At least during our lifetime.

The country moved quicker than any other place to implement a medical cannabis program . From an idea, to an announcement in December to the first prescriptions and licenses in less than three months. I’m already in the program. 

 

It took years in some US states. I don’t think it would take more than 12 months that it’s available should they decide to legalize it for recreational use. 

[yellowboat]

World's wealthiest junta.  Goodness knows they themselves could use a relaxant given that their panties are always in a twist.  Could help cha cha air out that wet blanket of his.   

[Vacuum]

12 minutes ago, Guitar God said:

The country moved quicker than any other place to implement a medical cannabis program . From an idea, to an announcement in December to the first prescriptions and licenses in less than three months. I’m already in the program. 

 

It took years in some US states. I don’t think it would take more than 12 months that it’s available should they decide to legalize it for recreational use. 

Fingers crossed.

[Wilsonandson]

7 hours ago, webfact said:

It could be worth 8.5 billion if recreational use is added.

Nuh, he's too interested in trains. Nice thought though.

[featography]

7 hours ago, PatOngo said:

Enough talk, get those profits rolling in.

And get those joints rolling out. 

[Wilsonandson]

Why not legalize, the products you could sell could alone make millions of baht for the government. Come on PM Prayut, you know it makes sense.

[DrTuner]

5 minutes ago, Wilsonandson said:

Why not legalize, the products you could sell could alone make millions of baht for the government. Come on PM Prayut, you know it makes sense.

 

 

The "Chiang Mai Special", right?

[Inn Between]

They're going to set up a joint committee to see how they can best roll this out to not let potential profits go up in smoke. 

[Ulic]

The only slow down is getting the system in place that allows the connected to benefit. Once that has been sorted sales will start.

[Oziex1]

The stoners are getting excited again. Lost interest in it years ago, sounds like harmless fun though. 

Just hope you're not smoking glyphosate, chlorophos and the rest. 

[Vacuum]

10 hours ago, Wilsonandson said:

Why not legalize, the products you could sell could alone make millions of baht for the government. Come on PM Prayut, you know it makes sense.

 

What are those, sex toys?

[chama]

Why is this hard to comprehend? Ganja is less dangerous than alcohol and taxing it would fatten the government coffers. It would also reduce the number of people being put into the overcrowded jail system.  

[donnacha]

Having put all their eggs in the Chinese tourism basket, recreational marijuana is the one thing that would bolster their Western tourism when the Chinese economy falters.

It would add some much-needed excitement to the tired Thailand brand as the baht continues to rise.

If they play it smart, it could come to eclipse Thailand's reputation for sex tourism, in the same way that a liberal attitude towards cannabis became more strongly associated with The Netherlands than hookers.

 

[Small Joke]

16 hours ago, donnacha said:

If they play it smart, 

 

Smart?

You're having a laugh.

I agree with your entire post though. I'd caution that China, Korea, Japan, Indonesia, Singapore, have a long long way to go, for them, Ganga may as well be flesh eating Krokodil. and they could strong-arm Thailand's conservative trough-feeders to realise that there's still much more to be made in keeping it illegal.  

Here's a stark example.

Projected UN cost of supplying legit opiate pain control to the entire world is $100 million per annum.

Police global drug prohibition costs $100 Billion p/a and rising. 

Where there's a cost, someone's making a profit. 

Simple.

 

[geoffbezoz]

On 5/14/2019 at 2:56 AM, PatOngo said:

Enough talk, get those profits rolling in.

Thailand really could become the "Hub of Highs" 

[PatOngo]

22 minutes ago, geoffbezoz said:

Thailand really could become the "Hub of Highs" 

A new hub. It stands alone as the hub of deception!

[geoffbezoz]

4 minutes ago, PatOngo said:

A new hub. It stands alone as the hub of deception!

Its a world leader in that one, second only to Nigeria

[DingDongLing]

They really need to fix this issue fast as I hate buying stem BS from shitty dealers at vastly overpriced, more then triple western prices for shit quality,  Wish it was easier way to get it.  I even asked a thai to get it for me and they got ripped off worse from the taxi