Thailand’s new government has a big priority — developing a local medicinal cannabis industry.
Hello! We have another country trying to jump on the bandwagon here.
Thailand is a little bit behind… Canada, the US, Australia and Israel already have a lead here.
But this is a useful signal for you and me as investors. Clearly, the Thais see the massive potential of this industry…the same as we do at Profit Watch.
We’ll dig into this more below.
Thailand excited by hemp
Here’s the most relevant snippet I found from the news around Thailand. A local party leader was cited as saying…
‘It was important to remove hemp with a high level of cannabidiol (CBD) from the list of banned drugs for cultivation and then to free up hospitals to prescribe drugs containing the chemical compound.’
Why do I highlight this? My colleague Callum Newman just put together an epic report on ASX cannabis stocks (you can access it here).
He says the best opportunities relate to the CBD market right now. This is further evidence right in front of us. His report has all the relevant stocks you need to know about.
If you ask me, I think this development is huge. It’s proving that countries now see the value in the cannabis plant for medicinal use.
For years, it was demonised and classified as having no medical value.
THC Global CEO Ken Charteris laid out the numbers recently:
‘Canada now has over 350,000 patients, Israel is in excess of 35,000 patients for a population of eight million.
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‘The numbers for Germany and Europe are in the millions. Here in Australia, it’s developing really rapidly.’
And unless people magically get well overnight, this trend will only continue to grow.
And the companies that are producing or even trialling medicinal cannabis could rocket at any time, depending on developments.
Just to rub in this idea, a new chain of clinics is opening all over Australia.
Their focus, simply put, is to provide patients with access to medicinal cannabis.
However, it’s easier said than done!
National demand for medicinal cannabis is nearly entirely supported by imported products currently.
And that’s not me blabbing on. That’s what Dr Vicki Kotsirilos, from the Royal Australian College of General Practitioners, told ABC News.
Key point: Australian companies have the potential to capture this market.
Continue to watch this space. If you want to find out more, go ahead and click here now.
Until next time,