Thailand removes low-THC hemp extracts from its Narcotics Control List
Thailand announced on Monday has removed hemp extracts (at -0.2% THC) from its list of narcotics. This specifically concerns hemp extracts, such as pure CBD, CBD-based products and products containing less than 0.2% of THC, the psychoactive ingredient in cannabis. The latter have been removed from category 5 of Thailand's narcotics list.
All forms of cannabis were previously classified as category 5 under the country's crackdown on drug traffickers law. Anyone caught in possession of cannabis or any other category 5 drug faced a fine of up to 1.5 million baht (€44,000) and a prison sentence of up to 15 years. But the government has finally removed pure CBD oils, CBD products and other cannabis products containing less than 0.2% THC from category 5. Hemp seeds and oils have also been removed from this classification.
«The aim is to enable extracts to be used in medicines, cosmetics and food and to support hemp as a profitable crop,» the secretary general of the Thai Food and Drug Administration, Tares Krassanairawiwong.
At present, only hospitals and research centers can apply for a license to develop their own cannabis extracts for medical purposes, but local companies are also expecting to get in on the act soon.
The production, cultivation and sale of cannabis is limited to Thai licensed producers for a period of five years, in order to protect the domestic industry. However, the Thai government is currently drafting regulations to allow private companies to join the sector. 334 licenses have already been awarded to hospitals and health agencies to enable the dispensing of cannabis-based medicines. For the time being, these are limited to CBD oil, 10,000 copies of which have already been distributed to patients last month.
Thailand, which has a strong tradition of medical use of cannabis, has legalized cannabis for medical purposes last December.
Thailand's cannabis market is expected to reach $660 million by 2024, according to Prohibition Partners.
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