Plantology signs deals to tap hemp opportunities

Plantology signs deals to tap hemp opportunities

Published 24 MAR 2021 at:

https://www.bangkokpost.com/business/

With the hype surrounding the use of hemp-based products recently, Plantology Co has joined hands through business partnerships, including with restaurants and direct sales companies, to explore opportunities from the new economic crop.

Plantology has signed memorandums of understanding (MoUs) with hemp extractors such as Supreme Pharma Tech and others to build a network of hemp planting in Thailand, providing standards to business operators as well as linking a network of hemp-related businesses from downstream to upstream.

With this collaboration, over 2,000 farmers are ready to plant 10,000 rai of hemp across the country.

At the same time, Siam Hemp Co, a hemp consultant and service company, has also signed MoUs with restaurants; Black Canyon Coffee chain, S&P Syndicate Plc and Arno's group, a direct sales firm; Giffarine Skyline Unity Co, and fresh fruit and vegetable suppliers; Siamfresh Enterprise Co, to use cannabis leaves, stems and roots in the menus and in their drink and food supplements.

Pongpasu Unaphom, senior marketing director at Giffarine Skyline Unity Co, said the firm has studied the market potential of hemp products for two years.

"We are interested in launching cannabis leaf tea because of a higher opportunity than any products. We are ready to launch hemp-based tea as soon as the Food and Drug Administration sets a clear condition of the quantity to put in the product," said Mr Pongpasu.

He added that cosmetics is another potential area. However, the company has to test it first to see that hemp really creates a good result with skin.

Kannika Chinprasitchai, senior marketing director at Black Canyon (Thailand) Co, said the firm began selling items with cannabis leaf at its first restaurant at the Public Health Ministry and then hemp-based beverages a week ago at its restaurant on Rama 9 Road.

"We believe that hemp-based products will help spur demand for food amid low consumer spending power."

Meanwhile, Montri Hasunmin, operations manager at Arno's Group, said the firm started serving 40 dishes with hemp at Arno Thai restaurant in Thong Lor. Those items are priced 30 baht higher than regular dishes.

"We're gaining 6,000-7,000 baht per day from hemp dishes at our restaurant," said Mr Montri.