Global cocaine glut — production surge and market effects

UN ~3,700 tonnes 2023 (+34% y/y) Colombia-driven (Petro 'junta'); prices depressed, polysubstance mixes; routes diversify: India emerging transit hub (Mundra port 115 kg, 118 kg busts via Brazil/Mexico/US/Karachi, African nationals), Australia $1B bust tied to Mexican cartel (DEA vs local police turf war), Interpol Orca XI 6.9t/8,700 arrests; Sierra Leone Brazil-Antwerp semisubs/GPS drops, Galicia/Mocro/‘Ndrangheta Antwerp/Netherlands, Nigeria palm kernel UK, Brazil Carvalho 45t Peru/Bolivia/OR Tambo mules, Australia Bass Strait 3.5t/6t, UK London Gateway £256m Panama bananas, Belgium/Dublin/Ecuador banana, Michigan torpedo.