In a recent interview, Thailand’s newly appointed Prime Minister, Srettha Thavisin, announced his government’s intention to restrict the use of marijuana for medical purposes. This decision comes as a response to the proliferation of thousands of weed shops across the nation since Thailand became the first country in Asia to decriminalize cannabis just over a year ago.
Prime Minister Srettha Thavisin expressed the need to rectify the current cannabis policy and address the uncontrolled growth of dispensaries selling the drug. He emphasized the importance of rewriting the laws to regulate marijuana strictly for medical use, eliminating any middle ground for recreational purposes.
While Srettha Thavisin acknowledges broad agreement among the 11-party coalition he leads regarding the need for restrictions, the specific actions his administration will take remain unclear at this point.
During the May election campaign, Srettha’s Pheu Thai Party pursued a tough anti-drug stance and vowed to reverse the landmark policy of decriminalization. However, the party is now in a coalition with the Bhumjaithai Party, led by Anutin Charnvirakul, who supports tighter monitoring and regulations of the cannabis industry but opposes reclassifying the plant as a drug.
Thailand’s decision to declassify marijuana as a narcotic has resulted in a regulatory vacuum, leading to an exponential increase of nearly 6,000 dispensaries across the country. These establishments offer a wide range of cannabis products, including buds and oil extracts containing less than 0.2% tetrahydrocannabinol (THC), the compound responsible for the psychoactive effects.
Additionally, local farmers are now permitted to grow cannabis after registering with the nation’s Food and Drug Administration. However, dispensary owners have expressed concerns about uncontrolled imports and declining prices in the market.
Prime Minister Srettha Thavisin’s government has made a strong commitment to eradicating drugs from Thai society. He recently participated in an event where confiscated drugs were destroyed and vowed to decisively reduce drug-related issues within a year.
Thailand has long been regarded as one of the main hubs for drug trafficking in Southeast Asia, particularly along the Mekong river valley. The region’s organized crime economy, which includes the illicit trade in drugs and wildlife, was estimated to be worth $130 billion in 2019 by the United Nations Office on Drugs and Crimes.
Prime Minister Srettha Thavisin recognizes the seriousness of the drug problem, particularly in the northeastern and northern parts of Thailand. He asserts that dealing with the existing drug issues should take precedence over introducing additional challenges.
As Thailand moves forward, the government’s reevaluation and regulation of cannabis for medical use represents a significant step in striking a balance between social concerns and the potential benefits of medicinal marijuana.
Market Capital Research 