Thai Leaf Biotechnology, a private company in the hemp industry, and Cornell University will collaborate in the design and development of new hemp strains that are high in CBD and adapted to Thailand’s weather. The initiative seeks to “upgrade the Thai hemp market,” reported The Bangkok Post.
Regional Markets On Sight
Thai Leaf is working on three market segments: beverages, food supplements, and cosmetics. Yingyos Charubusapayon, CEO of Thai Leaf said the company plans to become “the leader of the Asian hemp-based pharmaceutical market,” reaching a market share of 10% in the future. Yingyos foresees a larger market beyond Thailand, within the country’s region.
Thailand has opened the door to free hemp trade and Yingyos is looking forward to dealing with Indonesia, Laos, Cambodia, Singapore, Cambodia and Vietnam.
“If the government passes legislation in 2023 to support CBD derived from hemp (…) it will increase the likelihood of the Thai hemp market growing faster in the next three years,” Yingyos said. He described Thai Leaf’s business development as a “one-stop service model ready to develop the hemp market from upstream to downstream.”
“Thai Leaf is the only company in Asia that has collaborated with Cornell University, one of the top three American universities, which has intensively researched hemp strains and seeds for more than 30 years with government funding,” Yingyos said. “The hemp seeds developed and imported by Thai Leaf are