Despite a history of tough drug laws, it’s set to be a major supplier as the substance goes global.
The forecast for the legal cannabis market in Asia is rosy—it’s expected to swell to $8.5 billion by 2024 from practically nothing today. One of the main questions surrounding this potential market is which country will establish an early lead as a supplier. Surprisingly, Thailand has a good shot.
Although laws on its books can penalize possession of marijuana with up to 15 years in prison and a huge fine, the country was also one of the first in Asia to legalize medical marijuana. Thailand is looking to become the region’s cannabis capital with its potent strains. Yet to claim that title, it must move fast to pass legislation making pot legal for recreational use. Neighboring countries are following suit in legalizing medical marijuana and could cut in on the market.
– Read the entire article at Bloomberg.