Share prices of Thai cosmetic firms jump as cannabis market ramps up

Share prices of Thai cosmetic firms jump as cannabis market ramps up

THE WHAT? Share prices of Thai consumer firms have jumped following the government decision to allow the use of most parts of cannabis and hemp in cosmetics and food, according to a report by Reuters. 

THE DETAILS DOD Biotech Pcl, a cosmetics and supplements manufacturer, saw a shares jump of up to 11 percent following its announcement that it would produce hemp-based dietary and skincare products for retailer Beauty Community. The retailer also witnessed a shares leap, up to 4.4 percent from its benchmark gain of 0.2 percent. 

THE WHY? With the cannabis cosmetics new for Thailand following the government decision in December last year, local companies are keen to capitalize on the developing industry. 

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