High Tide Begins Selling Cannabis Seeds to US After DEA Signs Off

DEA said earlier this year that seeds are akin to hemp.

Canadian-based marijuana company High Tide (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) has commenced online sales of cannabis seeds directly to U.S. consumers, now that the U.S. Drug Enforcement Agency clarified earlier this year that it considers seeds to be akin to hemp, which is federally legal.

The company launched sales on its two online headshops, Grasscity and Smoke Cartel, which primarily sell cannabis accessories such as pipes and flower grinders. It plans to continue ramping up seed sales to bolster its other revenue streams, High Tide announced in a news release.

“This new business venture will greatly expand our U.S. customer base, which already sits at 2.4 million,” High Tide CEO Raj Grover said in the announcement, adding that seed sales will position the company “to take advantage of federal legalization in the United States when it comes.”

The global cannabis seed market is estimated to be around $1.3 billion, the company said in its release, and is projected to reach $6.5 billion by 2031.

On Grasscity, High Tide already has 30 seed strains for sale, and Smoke Cartel carries 24 strains.

John Schroyer

John Schroyer has been a reporter since 2006, initially with a focus on politics, and covered the 2012 Colorado campaign to legalize marijuana. He has written about the cannabis industry specifically since 2014, after being on hand for the first-ever legal cannabis sales on New Year’s Day that year in Denver. John has covered subsequent marijuana market launches in California and Illinois, has written about every aspect of the marijuana trade, and was part of the team that built the cannabis industry’s first-ever trade show, MJBizCon. He joined Green Market Report in 2022.

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