Sri Trang Agro Industry said that its subsidiary Sri Trang Rubber and Plantation has received a license in Thailand to grow hemp, a form of cannabis.
The license, awarded by the Food and Drug Administration, falls under the so-called narcotics of category 5.
The company is listed in both Thailand and Singapore.
Under terms of the licensing, the hemp grown is only for industrial and commercial purposes and will be sold to an unnamed customer that has an on-going business relationship with Sri Trang.
The hemp will be grown in Amphur Tern of the Lampang province.
According to Sri Trang, it will apply the concept of “digital traceability” on all products sold so that the hemp grown can “stand out in the marketplace and create added value to the hemp plantation as well as to develop longstanding relationship” with its customers.
Sri Trang expects to harvest crops from the experimental plot in early 2022.
Sri Trang closed Oct 25 at $1.39, down 0.71% for the day and up 20.87% year to date.
Photo by CRYSTALWEED cannabis on Unsplash
