DOD enters the “hemp” industry and moves ahead to submit an application for a license to set up a CBD extraction factory.

The DOD Biotech Public Company Limited (DOD) declares that it is prepared to seek a license to start a facility producing CBD from hemp as soon as possible. On January 29, 2021, only hemp (Hemp) became legal after the Ministry of Public Health Regarding the Application for Permission and Permission to Produce, Import, Export, Distribute, or Possess Narcotics Type 5, 2020. 

The effort to find commercial hemp growers included the corporation as one of the hemp customers, according to Thanin Srisetthi, chief executive officer of DOD Biotech Public Company Limited (DOD). Many agricultural networks in the Chiang Mai Province have applied for licenses to cultivate hemp, according to Mae Jo University. According to the government and Ministry of Public Health Policy, hemp plants, which are developing into new crops in the nation, should be used to increase economic value and raise people’s income.

Also acknowledged is that the Food and Drug Administration (FDA) must approve the use of hemp for the manufacturing of health products. If the application form for authorization is completed, the company will be able to apply for a license to construct a CBD extraction factory for the production and sale of hemp extract goods. The FDA is now working to design a system and platform for applying for permission to use legally.

The business is getting ready to submit an application for a production license in addition to a license to build a CBD extraction factory. (Non-planting) Request for the import and export of seeds, as well as getting ready to submit an application for a license to distribute seeds and an application for a license to own seeds, however, if the business is able to create commercial hemp extract goods as planned and has secured all the necessary permissions, it will be more prepared to take the lead in the creation of full-fledged hemp extract products. Importantly, it will lead to a considerable increase in the company’s revenue. and lowers the cost of production. effectively manage the raw material quality. As a result of having a separate extraction facility, it establishes a value chain from upstream to downstream. Produce gains and extra value for all parties.

However, the business will begin expanding the extraction plant after it has successfully obtained a license to build up a CBD extraction factory. to assist with the first stage of hemp CBD extraction so that the hemp extract can enter the commercial production line. To be offered to clients that possess top national product brands in the upcoming order. Additionally, the company intends to increase investment to construct a hemp extraction plant in the second phase if the first phase of the CBD extraction plant is successful. In the initial stage, this will be a larger extraction mill. This will help meet the rising demand and bring more products to the global market.

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