HomeAllHemp and CBD: a new cash crop opportunities and challenges

Hemp and CBD: a new cash crop opportunities and challenges

Hemp has gained a lot of attention after the government announced it would allow permission to plant, produce, import seeds, possess and sell them. With a wide range of benefits coupled with the demand in the global market that tends to be more open, hemp can become a new economic crop of Thailand that can be developed into high-value industrial products and create enormous economic added value. Thailand has high cultivation and production capabilities. Therefore, there is a chance to become a new player and engage in growth in the global hemp market. Unlocking the business of hemp is linked to at least five industrial chains, namely beverages, Food, pharmaceuticals, food supplement costumes, and personal care products, with a total hemp market value of about 15—8 billion baht in the next five years. However, farmers and entrepreneurs still face many challenges, such as developing hemp strains to meet the market demand, clarifying the law for business certification, etc.

Thailand unlocks cannabis, pushing towards a new economic crop.

Hemp is a Cannabis sativa L. plant family. Like Marijuana, it contains no more than 1% of tetrahydrocannabinol or THC (an intoxicating and addictive substance) of its dry weight, which is less than Marijuana but has more Cannabidiol or CBD kaufen (a substance with medicinal properties) than cannabis (Figure 1). Currently, hemp has gained a lot of attention in Thailand. After the government announced the unlock to be able to “produce, import, export, sell or have in possession” on January 29, 2021, by specifying the objectives of the permission to use according to the mission of government agencies, Use fibers according to tradition, culture or way of life. And for family use only (can be planted not more than one rai per family) in commercial or industrial use in medical practice in the study, analysis, research, or breeding, and the production of certified seeds.

Various benefits Continuing to be industrial products with high added value

Hemp has many properties, such as helping to make you feel relaxed, refreshed, helping to sleep comfortably. Treat dizziness, Headaches, or migraines (Box 1), which can be used in every part. The flowers, leaves, seeds, bark, stems, branches, and roots can be processed into many different products (Box 2), such as the Bouquet Top extraction group. Phytocannabinoids[3] with medicinal properties such as CBD kaufen (can be consumed directly or used as an ingredient to add value in food and beverage products personal care products Terpenes (scents used in the production of perfumes and essential oils). Leaves are extracted as ingredients in Food and beverages, biofertilizers, building materials, fiberboard, fiberglass, bark, stems. Made of fibers, commonly used to make clothing, ropes, lightweight bulletproof vests, paper pulp, packing materials, thermal insulation, bioplastic, lightweight trunk cores, used to make bricks. or mix concrete (Hempcrete) for construction Auto parts, furniture, hemp seed oils, and extracts used as an ingredient in food and health care products. Due to its high nutritional value (such as protein, vitamin E, omega)

The demand in the global market is high and tends to grow continuously.

In 2020, the global hemp and CBD kaufen market was worth US$4.75 billion by product category: personal care products (e.g., face creams, skin creams, hand sanitizers, and skincare products). bath products) US$1.76 billion (37.1% share of the global hemp market), followed by Food and beverages (25.2%), textiles (18.6%), and pharmaceutical products (11.6%), but by processing, hemp is the most processed oil product, worth $2.15 billion. (45.2% of the world hemp market value), followed by hemp seeds (28.8%) and fiber (20.0%). In the future, Allied Market Research expects the global hemp market to continue to grow. average 21.6% per year to $18.6 billion by 2027 (but still small compared to the global cannabis market