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.

<i>Photo by CRYSTALWEED cannabis on Unsplash</i>

Sri Trang Agro Industry receives go-ahead to grow hemp in Thailand

SGX reports FY2022 earnings of $451.4 million, up 1%; maintains full year dividend payout at 32 cents

OUE C-REIT to refinance existing debt with new $978 million sustainability-linked loan

Despite surge in new orders, DBS downgrades CSE Global on supply chain woes

Frasers Property and ThaiBev subsidiaries enter into JV to collaborate in the advancement of tech and digitalisation

Keppel O&M wins $3.97 bil FPSO contract from Petrobras in Brazil

RHB lifts Centurion Corp’s TP to 51 cents as headwinds evolve to tailwinds

Tencent's sales fall for first time as China's economy sinks

Sri Trang Agro Industry receives go-ahead to grow hemp in Thailand

Related Stories

Highlights

SGX reports FY2022 earnings of $451.4 million, up 1%; maintains full year dividend payout at 32 cents

Related Stories

Thai glovemaker Sri Trang Gloves gets secondary listing on SGX Mainboard