Investor
Ideas #Potcasts 635, #Cannabis News and #Stocks on the Move - #Thailand and
Cannabis in #Asia
Delta, Kelowna, BC, July 22, 2022
(Investorideas.com Newswire), investorideas.com, a global news source covering leading sectors
including marijuana and hemp stocks and its potcast site
release today’s podcast edition of cannabis news and stocks to watch plus insight
from thought leaders and experts.
Listen to the podcast:
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Today’s podcast overview/transcript:
In today’s podcast we take a look at last
month’s cannabis decriminalisation in Thailand and how this has continued to
develop as well as how both cannabis and CBD are progressing, or in some cases
regressing, elsewhere in Asia.
Thailand topped news headlines in the cannabis space,
having announced that as of Thursday, June 9th, Thailand became the first country in Asia to decriminalise cannabis.
In
a CNN interview ahead of the move, Thai Health
Minister Anutin Charnvirakul said he expected legal cannabis production to
boost the economy but cautioned that recreational use of the drug remains
illegal. "It's a no," said Anutin, who is also a deputy prime
minister. "We still have regulations under the law that control the
consumption, smoking or use of cannabis products in non-productive ways."
Harsh penalties remain in place under the
Public Health Act, including up to three months in jail and an $800 fine for
smoking cannabis in public
"We [have always] emphasised using
cannabis extractions and raw materials for medical purposes and for
health," Anutin said. "There has never once been a moment that we
would think about advocating people to use cannabis in terms of recreation --
or use it in a way that could irritate others."
A BBC article discussed the nuances of the new rules as, “people in Thailand can now grow
cannabis plants at home and sell the crop after the nation removed marijuana
from its banned narcotics list. Under decriminalisation, it is no longer a crime to grow and trade
marijuana and hemp products, or use parts of the plant to treat illnesses.
Cafes and restaurants can also serve cannabis-infused food and drinks -- but
only if the products contain less than 0.2% tetrahydrocannabinol (THC)”
The government is hoping that developing
a local cannabis trade will boost agriculture and tourism. It has also given away one
million cannabis seedlings to citizens to encourage pick-up.
"It is an opportunity for people and
the state to earn income from marijuana and hemp," said Charnvirakul.
Since legalisation,
Thailand Weed, a website and blog that is devoted to creating engaging and
informative articles, so that you can discover all the relevant facts about the
recent legalisation of weed in Thailand released an article
“All You Need To Know
Article About The Recent Legalisation Of Marijuana In Thailand”
Thailand Weed have made a
useful guide of Thailand’s current cannabis legislature, so that you are fully
aware of all the laws and conditions, an example of this is below:
●
CBD or “hemp” based cannabis products are completely legal in Thailand.
●
If approved by the Thai government, marijuana can be homegrown if it is
intended to be used for medical purposes.
●
Individuals must first receive a medical prescription for marijuana use
from a licensed physician, only then can they go to government approved
hospitals or cannabis clinics to receive the drug.
●
Components of the plant, including the bud and sees, can now be legally
used for medical or science-related reasons.
To find out more about
Thailand Weed and read more detailed articles on the recent legalisation of
marijuana in Thailand, please visit their website at https://www.thailandweed.com.
Thailand legalised medical use for
cannabis back in 2018, along with South Korea but since then we have seen
little movement in the cannabis space throughout Asia.
In a Vice report from
2021, Vice
journalist Junhyup Kwon visited South Korea’s southeastern province of
Gyeongbuk, a regulation-free zone for hemp, making it the centre of
the country’s cannabis industry. The city of Andong in the province, which has
traditionally grown hemp fabrics for thousands of years, has since
been the hub of the project.
“Although the laws allow it for medical
use, the government has placed further restrictions through specific rules,”
said Kang Sung-seok, an activist pastor and the representative and founder of Korea Medical Cannabis Organization, said in a phone interview with
VICE World News.
“The government allows patients to access
only a small number of medicines for some diseases. And it also requires
patients to get approvals from doctors in a very limited number of hospitals,”
he said.
In a recent article from
the BankokPost, “Thai embassies in
South Korea and Singapore are the latest to warn travellers from Thailand not
to bring cannabis or cannabis products with them, as they could face a prison
term or even the death penalty. These mark the latest in a growing list of Thai
embassies warning Thais that cannabis is still illegal in most countries.”
In Japan a recent High Times article discussed how a Japanese
Ministry of Health, Labour and Welfare panel met on May 25 to begin discussions
regarding lifting the ban on medical cannabis to benefit patients who suffer
from refractory epilepsy.
As reported by The
Asahi Shimbun,
the ministry may revise the current law sometime this summer. Japanese law
currently prohibits any possession or cultivation of any part of cannabis,
including “the spikes, leaves, roots and ungrown stalk of the cannabis plant.”
The
Asahi Shimbun references that
of the “Group of Seven,” or the seven countries with the most advanced
economies, which includes Canada, France, Germany, Italy, Japan, the United
Kingdom, and the United States. Of these, Japan currently has one of the
strictest approaches to cannabis regulation and prohibition. In August 2021, the Japanese ministry wrote a
report that recommended that the government should consider following the
example of other countries to allow patients to use medical cannabis.
In Hong Kong things are turning in a
different direction as in recent news Hong Kong’s law enforcement
authorities have proposed banning CBD products within this year after finding
that a third of such items sold in the city contain traces of an illegal active
ingredient in marijuana.
But retailers have expressed
reservations, arguing they should be allowed to sell such products as long as
the items have undergone laboratory testing and are verified safe for use.
The Security Bureau had also submitted a
paper to the Legislative Council proposing amendments to list CBD – or
cannabidiol, a substance derived from cannabis and its close relative, hemp –
under the Dangerous Drugs Ordinance within 2022.
The change will make the substance
illegal under the Dangerous Drugs Ordinance, which means those who buy or consume
such goods may face a maximum of seven years in jail.
According to an article
from the Bangkok Post, “Authorities cited
a recent study which found a trace amount of THC in a synthetic CBD solution
after only three months of use and it being stored on a benchtop. THC was not
detected in the item at the start of the experiment. It also cited another piece
of literature, which found CBD could be converted into THC with the use of
readily available acidic materials, such as vinegar or battery acid, in a
household kitchen.”
In India, a country with a
deep history of cannabis use and knowledge, we are seeing a slow shift towards
cannabis readoption as discussed in a recent article where Kerala became
home to Asia’s first
Ayurvedic cannabis wellness retreat and a new gin from Goa which features hemp
as its star ingredient. This year also saw the opening of three hemp-based
cafes in India—The Hemp Cafeteria in Pune, Off Limits Cafe in Kasol and, most
recently, The Hemp Factory in Mumbai.
In November 2021, the Food
Safety and Standards Authority of India (FSSAI) allowed the sale of hemp seed,
hemp seed oil and hemp flour as a food and an ingredient for food.
Yet, setting up a
hemp-based eatery is far from smooth-sailing. Shitole opened her cafe this June
but not everyone is accepting of the idea. “It’s not like my cafe is packed
because it’s newly opened. People are still scared and apprehensive to come
here,” she says.
Dealing with local
authorities and the perceptions of people caused delays in the paperwork, and
she doesn’t get a lot of customers from the neighbourhood her cafe is located
in. “But there are people who come from other parts of the city because they
know about hemp and are curious about the cafe.”
Elsewhere in Asia we see news from Russia regarding U.S. basketball player Brittney
Griner who recently pled guilty to drug charges which carry a prison sentence
of up to ten years after she was detained at a Moscow airport in February
carrying vape cartridges with hashish oil. Griner’s Lawyers told a Russian
court on she was prescribed medical cannabis in the United States for a chronic
injury
The Women's National Basketball
Association (WNBA) star appeared in court wearing a Nirvana t-shirt on Friday,
July 15th, 2022 for the fourth hearing
in the trial. She has said she did not intend to break the law, and U.S.
President Joe Biden has said the United States is doing everything it can to
secure her release.
This recent case with Griner in Russia,
as well as the developments in the Ukraine have revitalised support
for cannabis reform
and criticism of the Biden Administration as grassroots protests have been
organised across the United States, from Phoenix,
Arizona, to Harlem
in New York. A petition on
Change.org
surpassed 310,000 signatures. Celebrities, athletes and prominent politicians
continue to pile on the pressure.
Not only do many support this beloved,
internationally recognized athlete, but the majority of Americans (68%, to be
precise) support legalizing
marijuana. Seventy percent of Americans also support
clearing past cannabis convictions from criminal records for nonviolent
offenders.
As mentioned in a recent article from MJBiz Daily, “with midterm elections around
the corner and the U.S. Congress in a rush to clear up unfinished business, a
bipartisan group of lawmakers is growing increasingly frustrated that Senate
Democrats continue rejecting the SAFE Banking Act already passed by the U.S.
House of Representatives.
Moreover, the Senate has yet to hold a
vote on the SAFE Banking Act – or any other marijuana reform proposal – that
could pave the way for House-Senate negotiations.
So when looking at the
majority of Asia, cannabis is still both highly stigmatised as well as mostly
illegal, though this step from Thailand could offer renewed momentum to the
industry.
According to The Asian Cannabis
Report, “Asia,
the world’s most populous continent, has a relatively low prevalence of
cannabis use at just 2% annually. However, this is the equivalent to an
estimated 85.5 million people, making Asia a key market in the long-term
expansion plans of producers, investors and operators. As the historically
conservative stance on cannabis begins to soften, the medical market alone
could be worth as much as US$5.8 billion by 2024.”
Another recent report titled “Cannabidiol Oil
Market Size, Share & Trends Analysis – Global Opportunity Analysis And
Industry Forecast 2030, Covid 19 Outbreak Impact”noted that “based on region, the
Asia-Pacific cannabidiol oil market is forecast to emerge as the largest
market, owing to the presence of various hemp-producing plants. China is
expected to be the largest contributor to the cannabidiol oil market as it is
one of the largest hemp cultivators in Asia, which develops half of the world’s
hemp. Furthermore, favourable legislation approving the use of cannabidiol will
benefit the manufacturers. For instance, Thailand became the first Southeast
Asian country in 2019 that permitted the use of cannabis for medicinal
applications. Thus, such factors are expected to benefit the Asia-Pacific
cannabidiol oil market during the study period.”
There is obviously a huge potential
market to be had with expansion of medical legalisation as well as federal
decriminalisation but the question remains will there ever be recreational
allowances in Asia? The key element seems to be the stigma towards “getting
high” or the psychoactive effects of THC and its anecdotal link to supposed
“laziness” or lack of productivity. As the majority of Asian countries manage
most of global production capabilities, one can see why this would be the
mainline issue.
An article from Fortune discussed research regarding
cannabis and work productivity, specifically the link between cannabis access,
pain medication and productivity and how the three link.
“Previous research has shown that when a
specific chronic pain medication is removed from the market, people are less
likely to work, and those who do work become more likely to take sick days. The
older someone is, the more likely they are to take pain medication. This new
research finds that after recreational marijuana is legalised, marijuana use
(but not misuse) increases, and prescription fills for chronic pain medications
decline. Older workers are more likely to suffer from chronic pain, which
prevents some of them from working. Marijuana is useful in managing chronic
pain, and while pain medications are available, they require a prescription,
while recreational marijuana does not. The ability to purchase the medication
‘over the counter’ may reduce hassle costs and/or stigma, which have been found
to affect access in the context of other health products,” the authors write.
“After recreational marijuana is
legalised, working-age older workers are much less likely to claim workers’
compensation benefits. They’re better able to work productively.”
No matter whether you are looking at
parts of Asia, Europe, South America or
North America, there is one discussion/argument that permeates under all
discussions of medical benefits, health risks, mental risks, societal benefits
and downsides or the legal status of the plant and that is the issue of
“getting high” It seems there is always one category of person (a person
uncomfortable with getting high themselves, usually due to control issues) is
continually arguing with all other categories of people (who use either
cannabis or other plant or fungal based entheogens for medical or recreational
use) over the merits of the “high” or psychoactive or entheogenic effect that
these substances produce. In order for cannabis and other plant and fungal
based medicines such as Kratom, Psilocybin, DMT and Ayahuasca to truly become
global this disconnect between those who are capable of enjoying the ride of
“getting high” and those who cannot must be addressed.
Consider this when thinking about this
very topic; some of the most popular Global bands like The Beatles, The Rolling
Stones, Pink Floyd, innovators such as Steve Jobs and Bill Gates and the vast
majority of stand comedians, actors, musicians, artists, tech programers and
designers,
construction workers, truck drivers, NBA Players, NFL Players, MMA Fighters, athletes in general, artists and
not to mention Veterans and Police Officers have been
shown to regularly use and benefit from the use of cannabis. People who tend to
be sitting in the anti-cannabis or anti-high side of the argument tend to be
Politicians, government lobbyist groups, Super PAC’s, C-Level Executives, NFL
Owners, NBA Owners, Sports Commissioners, Mainstream Media companies and hosts,
real estate development groups and Pharmaceutical companies and those working
within them. Maybe those who are “getting high” are the ones actually being
productive and benefitting society at large, and the ones who are staunchly
against such activity are the ones simply benefiting from the hard work of
those “getting high”.
Video by Frank Kemper from Pixabay
Video by Engin Akyurt from Pixabay
Video by Valeriy Ryasnyanskiy from Pixabay
Video by Engin Akyurt from Pixabay
Video by Surendra Bhati from Pixabay
Video by Thomas Breher from Pixabay
Video by Alexander Lutkov from Pixabay
Video by Qika Nugroho from Pixabay
Video by Alex Peroff from Pixabay
Video by Nabin Mewahang from Pixabay
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