KK Strategies: Thailand's Medicinal Herbal Exports Worth Over 2.8 billion USD Annually
BANGKOK, Feb. 8, 2024 /PRNewswire/ -- KK Strategies has revealed that its new project based in the province of Phetchaburi in Thailand near Hua Hin is positioned to benefit greatly from the booming medicinal herbal market in Thailand. According to The Department of Thai Traditional and Alternative Medicine, Thailand's medicinal herbal exports are between 100 -150 billion baht, or 2.8-4.2 billion USD annually.
KK Strategies disclosed that Thailand is set for unprecedented growth due to recent government policies supporting the development medicinal herbal industry, particularly for exportation to the United States. This is particularly true for the pain related medicinal herbal exports. Thailand is the only country in the world that stands to benefit from this growing industry as other countries have less supportive economics and legislation, or simply produce far lower quality products.
KK Strategies highlighted that its valuation for the industry is conservative, taking The Department of Thai Traditional and Alternative Medicine's low end figure of 100 billion baht or 2.8 billion USD annually into account. This is simply due to a more subdued financial evaluation that it takes into consideration for its projects. Director Mr. Ohm Ammaramorn said "Our approach as a business is extremely conservative which allows us to be better positioned to deal with any future changing dynamics. This has served us well in the past and we would rather perform better than forecast than worse."
The Department of Thai Traditional and Alternative Medicine (DTAM) is the official government body within the Ministry of Public Health, that oversees Thai traditional and alternative healthcare. It was established in 2002. DTAM is responsible for the development and management of Thai traditional medical knowledge, integrating it into the country's health care system, setting up standards, and enforcing protection and research.
Natural and Healthy
Herbal plants are quick yielding and are increasingly being used in the production of hundreds of products including medications, herbal supplements and even teas. The most potent are native to South East Asia, particularly Thailand, where they have been used there for centuries in traditional medicine for the treatment of pain, coughs and fevers. Such herbs have now become a multi-billion-dollar industry due to increased use in North America and by international pharmaceutical companies, where they are now being used for the management of pain, treatment of anxiety, depression.
Thailand: A Global Pioneer Healing the World
Thailand has been a global pioneer in terms of regulation and production of herbal medication as well as agricultural production in general for decades. Medicinal herbal products, particularly for pain, are today an extremely valuable and economically important industry in Thailand. Their manufacturing, sale and consumption is legal, being part of traditional Thai culture for centuries. Pain focused exports officially began in 2021 spurred by the government noticing how important it was to resolving the opioid crisis across the world. In addition to a supportive government, Thailand is also home to the world's highest quality production. With Thailand's production found to be up to ten times more medically potent in terms of health boosting alkaloids, compared to production from Malaysia and Indonesia. These factors make Thailand the only country in the world which stands to benefit greatly from rising consumption from pharmaceutical companies and end users.
About KK Strategies (Thailand)
KK Strategies grows, manages and invests in some of the world's most rare, niche and valuable agricultural and forestry projects. Our multi asset strategy generates consistent attractive returns, while also helping develop solutions that solve global food, climate and biodiversity challenges. KK Strategies supply's produce of the highest quality for use by companies worldwide.
SOURCE KK Strategies
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