Market Information | Greenfield Farmers

Market Analysis

Greenfields Farmers specifically selected Prachuap Khiri Khan in Thailand as our base of operations, which provides an optimum level of support for getting involved in a budding industry. Many factors influenced our decision, and will positively impact our customers:

Government partnership

The Kingdom has specifically identified the cannabis industry as a way to improve livelihoods of farmers across the country. Recent developments include modifying the Narcotics Act 2021 & the FDA recommending eventual removal of cannabis from the list of banned substances.

Growing use cases

People growing cannabis at home are able to have their cannabis be used in an ever growing manner of places. Currently, cannabis is permitted for medical use as well as in food and in cosmetics, with more options for more parts of the plant being allowed to be sold and used.

Booming industry

The market capitalisation of the cannabis industry was appx. USD $23 Million in 20201. As the sector continues to evolve, it can be expected that a compound annual growth rate of over 25% will be maintained for the foreseeable future.

Key supply chain advantages

Thailand has the benefit of being extremely well connected globally, allowing Greenfields Farmers to import the most modern technology quickly, efficiently, and affordably; and could potentially allow for exported products as well.

Friendly climate conditions

Thailand benefits from its unique geographical position with consistent exposure to sun and a predictable two seasons year after year. The stable, mostly moderate weather allows for control of costs without having to adjust for wild swings in temperature which help control expenses.

Moderate and predictable costs

Investments in Southeast Asia continuously provide a higher rate of return on projects compared to other parts of the world The cost of goods compared to other markets (especially in agriculture), leading to much less capital expenditure spend to produce the same and oftentimes better output.

Greenfields Farmers will benefit from first mover advantage; establishing operations in Thailand that are respected as best in class in terms of sustainability as well as for producing high yielding cannabis. By being a producer ourselves as well as providing know-how to market, Greenfields Farmers is well positioned to take a large share of the growing cannabis market and is excited to engage with our customers and partners to help them understand how they can participate as well.