The share price of Gunkul Engineering Public Company Limited (SET: GUNKUL) rose 5% at the opening on June 8, 2022, as the Ministry of Public Health will remove marijuana and hemp with THC within 0.2% from the Narcotic Act from June 9, 2022, onward.
Marijuana and hemp are currently being used mostly in medical treatment and food and beverage-infused products as well as cosmetics.
GUNKUL is among upstream producers in the business that analysts believe to be one of the most beneficial companies from the lift.
The company generally is a leading supplier of equipment for power systems and renewable energy systems, but diversifies its business to hemp and cannabis to make the best of its vacant land by growing hemp.
GUNKUL made several investments in hemp and cannabis-related business, while also acquiring a license to produce (plant) narcotics of category 5, specifically hemp for commercial or industrial purposes through its subsidiary last December.
Other than GUNKUL, R&B Food Supply Public Company Limited (SET: RBF) also has the upstream sector. Meanwhile, the distillation process or midstream sector has RBF and K.W. Metal Work Public Company Limited (SET: KWM) and Osotspa Public Company Limited (SET: OSP), Ichitan Group Public Company Limited (SET: ICHI), Carabao Group Public Company Limited (SET: CBG) are downstream sectors.
The share price of RBF rose 4.49%, KWM (+4.46%), OSP (+0.74%), ICHI (+1.08%) and CBG (+0.94%).