The global cocaine market is experiencing a period of record supply, with prices falling and drug quality improving, according to an analysis by German magazine Der Spiegel, cited by European media outlets.
According to the European Drug Agency (EUDA), the average purity of street cocaine in Europe has risen to 80-96% in recent years, while retail prices have fallen. Frankfurt am Main is cited as an example, where, according to experts, a gram costs around €30-50, whereas a few years ago the price was around €100.
One of the key reasons cited is the situation in Colombia. Following the government’s peace agreement with the FARC rebel group in 2016, the area of coca plantations in the country increased by about 73% and is now comparable to the territory of two Berlins, according to Der Spiegel.
Increased competition between cartels and “logistics optimization” have led to larger volumes of purer product entering Europe, shifting the balance between supply and demand. Experts interviewed by Der Spiegel describe this as a “white tsunami,” pointing to the growth in the number of consumers in Europe and the Americas, which is also reported by the United Nations Office on Drugs and Crime (UNODC).
International organizations emphasize that the expansion of the cocaine market is accompanied by an increase in related risks, from organized crime to serious health consequences, and call on governments to strengthen prevention and addiction treatment programs.
According to estimates by narcologists, long-term cocaine use leads to severe addiction, increased anxiety, depression, and psychosis, raises blood pressure, and sharply increases the risk of heart attack and stroke. It causes chronic damage to the nasal septum and lungs (when snorted or smoked), reduces libido, and often leads to social consequences such as job loss, debt, and family conflicts, as well as an increased risk of HIV and hepatitis when injected.
According to the United Nations Office on Drugs and Crime, in 2023, at least 25 million people worldwide used cocaine, up from 17 million a decade ago, and the retail turnover of the global cocaine market, according to a study by Global Financial Integrity, was estimated at between $100 billion and $143 billion per year in 2017 and, according to experts, could have doubled since then.
