**Asia International Hemp Expo 2024** Sets Thai Raw Material Standards to Compete in the Global Hemp Industry
Announcing the event for November 27-30

The Thai Industrial Hemp Trade Association (TIHTA) is accelerating the establishment of Thai hemp industry standards to align with international standards, supporting business opportunities from emerging hemp markets after Europe and some Asian countries have revised their laws on hemp usage. The association is also promoting the ‘Hemp Sandbox’ pilot project to establish a benchmark price for hemp raw materials, connect the industry’s supply chain, and has partnered with NEO to announce the third annual ‘Asia International Hemp Expo 2024,’ driving and linking the hemp industry forward. The event is expected to generate over 1 billion baht and will take place from November 27-30 at the Queen Sirikit National Convention Center.

Mr. Pornchai Patamintara, President of the Thai Industrial Hemp Trade Association, revealed that the hemp industry trend in 2024 will see a more open market, especially in Europe and some Asian countries, which have diversified their hemp usage laws. This creates opportunities and broad economic expansion. It is expected that the global hemp industry will grow to 100 billion USD by 2026 (data from The Global Cannabis Report: 3rd Edition by Prohibition Partners). Simultaneously, the market value of Thailand’s hemp industry is projected to reach 2 billion USD by 2026 (data from Euromonitor), driven by Thailand’s position as a Medical & Wellness hub supported by both the public and private sectors.

Establishing International Standards in the Thai Hemp Industry to Embrace Global Opportunities
Promoting industry sustainability, especially by establishing internationally recognized standards, is crucial for economic connectivity between countries. The Thai Industrial Hemp Trade Association, along with various industry networks, has been part of the push to create relevant industry standards, particularly in good manufacturing practices from upstream to midstream. This includes implementing a tracking system throughout the production process and reflecting the success of pushing standards through members who have increasingly applied for GAP and GACP certifications.

Since 2021, the Ministry of Industry has issued five standards for hemp extracts, including hemp seed oil, CBD extract, hemp bark, hemp core, and hemp fiber, covering various industries such as textiles, food, cosmetics, paper, and automotive. This aligns production standards with new hemp markets in Europe, which allow the import of products or raw materials from Thailand. Thai hemp industry entrepreneurs must comply with GMP and EU-GMP standards to align with target market contexts.

Hemp fibers and extracts are used in various industries such as alternative wellness products, medical products, the fashion industry, automotive and aerospace industries, and lifestyle products. This growth also promotes the ESG concept, and the hemp industry opens opportunities for creating and trading carbon credits, as hemp can absorb more carbon dioxide from the atmosphere than other plants. Therefore, the industry has the potential to generate carbon credits for companies aiming to reduce their carbon footprint. However, establishing standards and verifying the accuracy of carbon credits remains a challenge.

### TIHTA Launches ‘Hemp Sandbox’ to Establish Benchmark Hemp Prices for Sustainable Industry Growth
The association aims to push for an appropriate benchmark price for hemp raw materials to connect the supply chain for sustainable industry growth. The ‘Hemp Sandbox’ project promotes hemp cultivation in flat areas, expanding from highland areas, and encourages cultivation near processing facilities and export transport points. The project provides knowledge on cultivation, certified seed sourcing, and market demand for each industry, supported by government agencies. It also outlines joint research and development of harvesting and processing machinery by domestic entrepreneurs, with support for trial planting areas and irrigation systems from participating sectors. Hemp Sandbox is expected to establish good production standards from the start, aligning with industry demands and international market standards, such as cultivar registration, certificate of analysis (COA) for plant varieties, and compliance with GMP, EU-GMP, Green Industry, ISO 27716, 14001, 9001, Halal, and other relevant standards.

Mr. Sakchai Pattarapreechakul, Executive Director of N.C.C. Exhibition Organizer Co., Ltd. (NEO), said, “In collaboration with Asia International Hemp Expo 2024, now in its third year, we are proud to leverage our exhibition expertise to connect opportunities and drive the hemp industry forward, alleviating industry constraints. This year’s event will not only showcase technology and innovation for 14 industries but also feature international seminars with case studies and knowledge sharing by experienced speakers from over 20 countries, covering topics such as cultivation techniques, extraction techniques, health products, future foods, automotive and aerospace composites, hempcrete, and crucially, production standards for different markets. We expect over 200 companies to exhibit and more than 10,000 attendees, generating over 1 billion baht.”

### Driving ‘Raw Material Supply Chain Connectivity to Create Hemp Industry Demand’
A key highlight of this event is connecting the raw material supply chain through the HEMP Supply Chain Pavilion, allowing growers to present their cultivation capabilities and production volumes to buyers from various industries. Industrial buyers will specify raw material properties and annual demand, enabling growers to plan accurately. Additionally, partnering with the Design Object Association, the HEMP Inspired Showcase will feature hemp-based product designs to demonstrate the potential of raw materials and inspire increased demand in the hemp industry. This activity aligns with the Hemp Sandbox vision of the association.

Interested participants can register in advance at www.asiahempexpo.com. The event will be held from November 27-30 at the Queen Sirikit National Convention Center, Bangkok.