Thailand Could the First Asian Country to Legalize Medical Marijuana
We’ve all heard about the marijuana growth potential in the U.S. and Canada.
However, smart investors are wise to pay attention to the international community, too. Uruguay and Canada are already leading the way on recreational marijuana. Parts of the U.S. are quickly jumping on medicinal and recreational marijuana opportunities.
Even Germany broke barriers last year, approving its medicinal use.
Now, Thailand may be the first Asian country to legalize medical marijuana, unlocking a potential $22 billion global market with an annual growth rate of 22%, notes Arcview Market Research, as reported by Bloomberg.
At the moment, a bill is currently being debated in the National Legislative Assembly. It’s expected go green light legalization of medical marijuana. While it could take several months for it to become law, approval would make Thailand the first Asian country to legalize its use.
Perhaps other Asian countries won’t be far behind.
Latin America Poised for Global Domination
Even Colombia is just beginning to transform itself into a billion-dollar marijuana producer for the pharmaceutical industry. Growers estimate that the country could capture as much as one-fifth of a global market that could be worth $40 billion a year, according to Reuters.
Colombia is on its way to become one of the largest global export leaders in medical marijuana since legislation in the region passed in. At current pace, Colombia could supply 44% of the global demand for medical cannabis, as noted by Andres Lopez, the director of Colombia’s National Drug Fund, as quoted by Medical Marijuana Inc.
“The global cannabis market could be worth as much as US$40-billion next year, and Colombia hopes eventually to own a fifth of it; this new commodity could earn more than coffee, flower, coal or banana exports,” noted The Globe and Mail. “Colombia is wooing foreign investors, talking up its potential in the new era of peace as a resource-rich country with a business-friendly regulatory environment. Colombia has the ideal climate for cannabis, with the evenly split 12 hours of light and dark each day that the plant prefers, a pool of low-cost labor and easily-transferable expertise and infrastructure from a large cut-flower export business.”
It’s quickly drawing the attention of large marijuana companies, like Canopy Growth, which acquired Spectrum Cannabis Colombia S.A.S. for $34.8 million in stock. Canopy Latin America’s initial operations will be headquartered in Huila, Colombia, where the firm owns a 300-acre-plus farm of which more than 100 acres are licensed to produce cannabis.
As more countries legalize its use, we could see a modern-day gold rush into related stocks.