Thailand’s government seems to be reconsidering its previous commitment to banning recreational cannabis, with a minister proposing a shift toward regulating the rapidly growing industry. Bhumjaithai Party leader and Interior Minister Anutin Charnvirakul stated that Srettha Thavisin, the prime minister, had decided to look into the possibility of drafting a bill to regulate cannabis sales and use instead of outright banning it.
Anutin thanked the prime minister for taking up the matter and choosing to pass legislation. His party played a significant role in the decriminalization of marijuana in 2022. He also noted that the administration will allow different political parties to submit their draft laws to parliament in addition to Bhumjaithai’s legislation.
While the details of the proposed bill remain unspecified, this move appears to delay Srettha’s contentious plan to ban cannabis, only two years after Thailand became the first southeast Asian country to legalize it.
This month, a Ministry of Public Health drug control committee approved a proposal to categorize marijuana as a narcotic. The proposal was scheduled for review by the Narcotics Control Board (ONCB), but discussions between Anutin, Somsak and Srettha preempted the meeting. Had it been approved, the ban would have started on Jan. 1, 2025.
Srettha’s contentious agenda has caused a rift within his fragile coalition government. Throughout the 2019 election campaign, Bhumjaithai — the coalition’s second-biggest party — prioritized marijuana decriminalization, with Anutin being a major driving force on the issue.
However, the decriminalization of cannabis in Thailand took place in the absence of any legal restrictions on its production or distribution. Bhumjaithai later drafted a measure for regulation, but it did not reach a vote before last year’s general election.
Decriminalization led to a booming recreational cannabis market with numerous shops offering various products, including joints and edibles. Amid a moral panic over rising drug use, especially among the youth, Srettha’s party, Pheu Thai, took a tough stance on cannabis, promising during the election campaign to reinstate controls.
Srettha ordered in May for authorities to reschedule marijuana as a category five drug, which will prohibit its production, possession or use. This change is anticipated to take effect by the start of 2025.
Anutin recently stated that he was perplexed by the return to harsh measures and promised to use his position on the ONCB to resist the recriminalization. While Bhumjaithai never completely endorsed recreational use — Anutin’s main objective was to create a business around medical marijuana — he emphasized the importance of conducting additional research before reaching snap judgments.
The recent move by the government to return to a regulated approach is intended to ease the political strain between Pheu Thai and Bhumjaithai, its main coalition partner. This change is likely to be cautiously welcomed by the country’s marijuana businesses and activists, who have been protesting daily outside Government House in Bangkok.
For companies that have their eye on the international market, such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY), the reported change of heart by the Thai government regarding the country’s marijuana policy direction could set the stage for some attractive market opportunities.
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