Santa Fe Farms (Thailand), Ltd. and joint venture partners sign memorandum of understanding with The Tobacco Authority of Thailand to develop the hemp farming industry in Thailand
SANTA FE, N.M. (September 28, 2021) Santa Fe Farms, a leader in the production, manufacturing, and distribution of hemp and hemp-derived products for industrial use, soil health, and carbon offsets, today announced that its newly formed Thailand Joint Venture, Santa Fe Farms (Thailand), Ltd., signed a memorandum of understanding with the Tobacco Authority of Thailand (TOAT). The joint venture is projected to achieve significant economic impact for the Thai agricultural community through the growing, harvesting, processing and development of the industrial and CBD hemp in Thailand.
Due to the ongoing reduction of demand for tobacco products, the TOAT has been searching for agricultural solutions to help its affiliated farmers develop sustainable income streams from new crops. To this end, TAOT has been working with various governmental entities and the private sector to make hemp cultivation one of those solutions. The deep expertise and resources of Santa Fe Farms will serve to accelerate the development of a successful industrial hemp industry in Thailand.
The hemp business will be mutually beneficial to both the United States and Thailand’s economic and diplomatic relationship as both countries continue to develop hemp products. This venture has the ability to bring more capital, technological advancement, and job opportunities to Thailand. According to Rick Schawelson, COO of Santa Fe Farms, stated “As we work to support the economic climate of Thailand with industrial hemp, we also have the ability to address climate change. Achieving carbon reduction and improving the environment is a global issue, and we need global partners to reach these important economic and climate change goals.”
About Santa Fe Farms
Santa Fe Farms is an integrated company leading the growth and development of the industrial hemp industry. Santa Fe Farms spans the growth, transformation, and impact of industrial hemp into key wellness, chemical and physical ingredients and components which can be incorporated into thousands of product categories including health, human and animal nutrition, agriculture, building materials, paper and packaging, plastics, and advanced carbon materials. Santa Fe Farms will be a net-negative carbon business and source of offsets available to other enterprises seeking to reduce their carbon footprint to meet ESG goals and/or regulatory requirements. For more information, visit www.santafefarms.com.
About Santa Fe Farms (Thailand) Ltd.
Santa Fe Farms (Thailand) Ltd. is a recently formed joint venture between Santa Fe Farms and Thai partners: Tanjai Development, Thrive Venture Builder and Toyo Business Agency.