Krungsri Research estimates the value of the Thai hemp industry Considering the value of the downstream industries that have the potential to use hemp as a base for evaluation together with the proportion of hemp that is expected to be used in each industry, which can be evaluated as follows:
- In 2021, the beverage industry with hemp blends is expected to be worth 280 million baht, followed by hemp-based food products at 240 million baht, hemp-derived medicines and supplements at 50 million baht, and clothing made with hemp fiber 30. million baht and personal care products are estimated to be mainly in the product development phase in the first year. In the five industries, hemp will be used, worth about 600 million baht.
- It is estimated that Thai hemp products will grow significantly after the government unlocks the business in the first five years. The Thai hemp market will be worth as high as 15,770 million baht at the end of 2025, or an average growth (CAGR) of 126% per year. Get learn more information cinemavilla
Where is the Thai hemp industry?
Thailand has potential for cultivation, considering.
- Thailand has favorable terrain and weather. They make it possible to plant in open ground, especially the northern and upper northeastern regions with average temperatures of 18-33 degrees Celsius, suitable for CBD kaufen cultivation. In addition, the average harvesting period is short, 3-4 months, allowing 2-3 cycles per year to be planted. In contrast, it must be planted in a closed area in European countries to control the temperature. which has high cultivation costs.
- Thailand has good knowledge and a database. The Highland Research and Development Institute (OSMEP) has been researching and developing cannabis for more than 10 years until being able to develop CBD kaufenvarieties through registration as the first. They also have the availability of seeds. Make people community enterprise Juristic persons contracted to buy more than 600 species in late April – early May last year.
- Hemp cultivation in Thailand can be done in a variety of ways. Depending on the demand for yields and cultivation costs, the outdoor type is suitable for planting for fibers, stalks, and seeds because the low cost of cultivation by the product price is not very high. At the same time, the closed system is suitable for cultivation to extract the extracts from the inflorescences as it requires a high level of quality control.
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Farmers and processing factories gradually started to do business. Hemp has stringent business laws. In particular, documents for permission are pretty specific and concise, such as a criminal background checkbook. Land ownership A map showing the location of the planting site. Plans of buildings or houses, production plans, utilization plans, security measures, and methods for destroying the remaining portion of hemp from use.
For this reason, applications for commercial and industrial use must be made in parallel from both growers and processors. The farmers must be ready to identify CBD kaufen species, including selling them to any entrepreneurs. At the same time, entrepreneurs must be ready to invest because they have to specify a plan to exploit and destroy the rest. It can be summarized as follows:
- Farmers must have readiness for planting areas, production plans, utilization plans. Security And there must be a processor who buys specific products or has already done contract farming. Currently, many farmers have registered for permission to plant hemp. Therefore, it is expected that hemp production will gradually enter the industrial chain more in the 4th quarter of 2021 onwards.
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- Processing plants need to be ready to extract them into oil/powder; however, operators still face limitations on raw materials as all four Thai registered hemp seed strains are fiber-only. In addition, the seeds cannot be imported for commercial extraction. As a result, entrepreneurs need to wait for new hemp productions. expected to be released in the market in late 2021.
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