Is Thailand's booming cannabis future in peril?

STORY: After cannabis was legalised in Thailand, business boomed.

With thousands of cannabis stalls popping up in tourist areas, it represented hopes for many of boosting the nation’s economy - though it alarmed some health experts, and drew criticism from the government opposition.

But nearly a year on, the legal framework around its use has never been set out, failing to get through parliament in February.

And as the country’s election looms, as well as this year’s crop, critical legislation on cannabis has not been passed.

Industry members have also said they had to deal with large amounts of cannabis smuggled in from abroad.

It has driven down wholesale prices and hurt growers like Chalakorn Choomwan:

“The most important thing in an investment is time. Time is the most important asset. If anything is delayed, it will affect the entire structure (of the industry), whether it be the systems, workers, or the products. This (delay) clearly has an effect on us all.”

Cannabis shop director Natworaphakkhathorn Phongthanatthanakorn told Reuters that initially, he could sell a kilo of cannabis for between $11,000 to $14,000

But the price has plummeted to just under $4,400.

Cannabis is a political flashpoint in Thailand.

The opposition has criticised the ruling coalition in the run-up to May 14 polls.

By saying it rushed through decriminalisation last year to the detriment of society.

But the government has put its hopes on legislation, which it blamed rivals for derailing in parliament.