Thailand: Medicana to invest B120m in hemp farm

Thailand: Medicana to invest B120m in hemp farm

Newly established Medicana Lab Co plans to spend 120 million baht to strengthen its medical hemp business by producing cannabidiol (CBD) oil from its hemp farm via a closed system. CBD oil is seen as having the potential for further development to treat many ailments. Medicana Lab wants to market its products along midstream and downstream supply chains for domestic and overseas sales, said its chief executive Vorapat Phornprapha. “This will be our pilot project. We are interested in businesses related to hemp and marijuana, which will be new Thai economic crops,” said Mr Vorapat. Medicana Lab has joined hands with US-based Taratera Corporation, which has 20 years of experience in breeding and developing plants, as well as extracting substances from plants. The 120-million-baht investment will support use of Internet of Things technology to control farming in a closed environment which is suitable for hemp growth. This type of plantation ensures 22% higher crop yields than those of hemp planted outdoors. There is an opportunity to grow more hemp locally and abroad as high-quality crop yields from closed-system farming are currently in high demand. Read more

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Source : Thailand: Medicana to invest B120m in hemp farm

reposted by Cannabis News World

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