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BANGKOK, March 17 (Reuters) - Share prices of Thai cosmetics and food firms jumped on Wednesday after announcements about the research and manufacture of cannabis-based products, as consumer goods companies rush to be first movers in a new market segment.
Cosmetic and supplements producer, DOD Biotech Pcl , saw share prices climb as high as 11.6% after it said it would develop and manufacture dietary supplements and skincare products that contain hemp for retailer Beauty Community Pcl.
Beauty Community jumped as high as 4.4% during trade against a benchmark gain of about 0.2%.
Local consumer good companies are keen to capitalise on the government’s unlocking of hemp and CBD for consumer products in a push to make it the next cash crop of Thailand.
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Reuters
Hemp goes from zero to economic hero
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A slew of Thai companies have identified opportunities and are planning to ride the wave
published : 1 Mar 2021 at 07:00
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Hemp, a weed that was long regarded as a forbidden plant and included on the country s narcotics list, is taking Thailand by storm.
Ten categories of goods or products ranging from mouth spray, food supplements, skincare products and energy drinks to painkillers and spa products are cashing in on hemp s hype after the government legalised commercial growing in the country last year to promote hemp and cannabis as new cash crops.
From Jan 29, the Food and Drug Administration (FDA) has allowed individuals, legal entities, government offices, community enterprises and companies to register to use the legal parts of cannabis and hemp for medical purposes, as well as in the textile, pharmaceutical and cosmetics industries.
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TextDominic Cadogan
The photographer, set designer, and artist explores the future of transness through their captivating images, that are simultaneously breathtaking and the representation the industry desperately needs
The Dazed Beauty Community is our ever-expanding encyclopaedia of creatives and emerging talent from across the world who are redefining the way we think about beauty. From supermodels to digital artists to make-up prodigies transforming themselves in their bedrooms, these are the beauty influencers of tomorrow who embody everything Dazed Beauty is about. Discover them
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“I hope people can for a few seconds leave this gross binary unreality and experience that mental state of transness,” explains photographer, set designer, and artist Furmaan Ahmed on what they hope people take away from their breathtaking imagery. “I hope people can connect to that part of their imaginations to explore more of what could be.”
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Hemp licences expected to boost stocks
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published : 1 Feb 2021 at 04:44
4 Cannabis is grown on a farm in Nakhon Ratchasima province. Analysts say plantation and refinery businesses should see a stock bump as a result of the legislation. (Photo by Prasit Tangprasert)
The government s decision to legalise commercial hemp growing in Thailand is likely to lift stock prices for sectors standing to gain from hemp oil and extracts derived from the crop in fields such as cosmetics, food and beverage, and pharmaceuticals, market analysts say.
According to KTBST Securities Research, stocks related to hemp plantation have high potential for future growth.
Applications for commercial hemp plantations were opened for the first time on Jan 29.
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