Withdrawal of the cannabis price arouses market interest
Following the partial decriminalization of cannabis, several consumer goods companies are eager to use it in their products.
Pongpasu believes that the health trends and clear benefits of cannabis and hemp seed oil will fuel the demand for plant-based products. POOMLARD SOMCHAI
Large companies in the fields of beverages, entertainment and consumer products are making inroads into cannabis-related products after the partial decriminalization of the drug came into force last Thursday.
Pongpasu Unaphom, senior marketing director of Giffarine Skyline Unity Co., a Thai direct sales company, said his R&D team is accelerating the development of cannabis-ready food and beverage as a key ingredient.
“Most people expect to use cannabis-based products to benefit their sleep, but manufacturers are limited because the amount of cannabis allowed in the products is still controlled by the Food and Drug Administration. [FDA]”Mr. Pongpasu said.
PROMISE DESPITE THE RESTRICTIONS
He believes that the health trends and clear benefits of cannabis and hemp seed oil will fuel the demand for products made with plants.
“We launched a premium toothpaste with hemp seed oil last month,” Pongpasu said.
“We can sell about 20,000 tubes of toothpaste so far, more than the projected 15,000.”
The company plans to launch food and beverages with cannabis as a key ingredient during the second half of the year.
Cannabis was removed from Thailand’s Category 5 narcotics list on June 9, allowing people to grow an unlimited number of plants at home.
Withdrawal of cannabis as a narcotic does not mean that people can use it freely, especially for recreation.
Homemade cannabis is only allowed for health and medical purposes, and people must first register the crop with provincial administrative organizations or through the FDA’s mobile application Pluk Kan, developed and managed.
Despite legal flexibility, extracts containing more than 0.2% tetrahydrocannabinol (THC), the main psychoactive compound in cannabis, will continue to be recognized as a Category 5 substance and regulated by laws related to the control and suppression of cannabis. narcotics.
Anyone intending to grow marijuana plants for commercial purposes should seek permission from the responsible authorities.
MORE FOOD
Boonyong Tansakul, chief executive of Zen Corporation Plc, the operator of Tummour, a chain of Isan restaurants, and Khiang Street Food, said the company is ready to use cannabis on its menus.
“We have launched our Tummour fermented fish sauce [pla ra] with cannabis this month and will use cannabis instead of basil in some Khiang street food menus if there is enough supply, ”Boonyong said.
“The new law will allow many industries to use cannabis as an ingredient in their products, such as sweets, chocolate, chewing gum, cosmetics, bakery products and beverages.”
Kanwara Kiratisaevee, director of marketing for Hokkaido Food and Beverage Co., the marketer of the Marucho snack brand under the TOA group, said the company launched a terrific-flavored Marucho snack in January this year to test the answer. of the market.
“We will take time to study the market response and see if the popularity of cannabis-related products will be sustainable,” Ms Kanwara said.
He said the company is conducting feasibility studies to develop beverages, including a functional beverage that has cannabis as an ingredient.
MAGIC INGREDIENT
Kamolrat Mongkolkrut, director of sales for JKN Global Group, the content provider and entertainment company, said the company plans to emphasize expanding the product with cannabis as an ingredient because it believes the plant will gain popularity if he sees it as a magical ingredient that benefits people. Health.
The group launched skin care products with hemp seed oil through the online market in December last year.
The company expects 30 of JKN’s hemp and seed oil products to be available for sale this year, with sales of 200 million baht.
“The market value of pharmaceutical and food supplements with cannabis as an ingredient is estimated at 50 million baht by 2021, and the figure is expected to reach 15.8 billion baht by 2025,” Kamolrat said.
