Market to generate B25bn within 5 years
The government is definitely aiming to make Asia a regional manufacturing centre for hemp products in the next five years to generate at least 25 billion baht in income, said Industry Minister Suriya Jungrungreangkit yesterday.
The plan is projected to add a lot more value to hemp grown and gathered in Thailand simply by at least 20, 1000 baht per rai, he said.
The shift will also bring about a lot more jobs across the market supply chain, that the government intends to boost, he said.
The plan is within line with growth in the global hemp industry, which has been driven by the easing from the plant’s legal limitations in the United States, Canada, Australia, EU, China, Japan and South Korea for commercial purposes, he said.
In 2020, the value of the global hemp industry stood from 142 billion baht with 22. 4% growth that season, he said, including that by 2027, the value is projected to reach 558 billion baht per year.
The ministry had assigned the Office of Industrial Economics (OIE) to draft an operation plan to support the promotion of hemp as the country’s most recent cash crop, he or she said.
The hemp industry development plan is also consistent with the government’s Bio-Circular-Green Economy policy, he said.
OIE movie director Thongchai Chawalitpichet said the hemp sector operation plan presently consists of four primary measures.
The first measure relates to the promotion of research and development required for developing prototypes, building an industry network and making sure the protection of intellectual property, this individual said.
The second measure deals mainly with supporting small- and medium-sized entrepreneurs to expand and upgrade their businesses and ensure many meet international criteria, he said.
The third determine deals with marketing promotion for locally made products in relation to strategies in the hemp product manufacturing sector, he or she said.
The last measure relates to the improvement of laws and regulations aimed at improving convenience in the certification of hemp items, he said.
The Centre for Hemp Quality is now ready to become set up to manage the particular technical and monetary support for the implementation of the regional hemp hub plan, he said.
“Hemp has become an important plant in many nations now as most parts of it can be turned into various types of products having a high commercial value, ” he said.
More than 50, 000 types of hemp products have been made available for sale internationally, including medical and foods, beverages, animal feed, cosmetics, textiles, construction materials and materials used in certain industries, such as the modern car, aviation and room industries, Mr Thongchai said.
In the past, hemp has been processed mainly into fabric and document, Mr Thongchai said.