Hemp Businesses Cheer as FDA Returns Hemp License to DOD with no Significant Changes
Keep a close eye on the movement of DOD's share price after Thai FDA returned the hemp license to the company with no significant changes.
DOD Biotech Public Company Limited (DOD) has announced that following the Food and Drug Administration’s action in recalling the license to import hemp seeds without reason given from Siam Herbal Tech Company Limited, a subsidiary of DOD, the company has received the license back on May 17, 2021, with additional conditions.
The additional conditions contain regulations saying that every importation of hemp, importer must obtain a permit to import each time (Import Authorization Narcotic Drugs) in accordance with Form NAR.5 (HEMP)-1, according to Article no.19 of the Ministerial Regulations, Application for Permission, Permission to Manufacture, Import, Export, Sell or Have Possessing of category 5 narcotics only for hemp, 2020″.
The share price of DOD rose as much as Bt15.80 on March 18, 2021. After the incident of recalling the license, the share price has been on a decline since then. Yesterday, DOD closed at Bt12.70 per share, decreased Bt0.10 or 0.78% with a trading value of 45 million baht.
