Cocaine & Meth Prices Get High

Drug fighters encouraged as hefty price hikes signal supply shortage

By Asta Hostetter, Newser User

Posted Nov 9, 2007 3:00 AM CST

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Cocaine & Meth Prices Get High — Police officers stand next to packages of cocaine seized from a ship last week in the port of Manzanillo, western Mexico and showed to the press Monday, Nov. 5, 2007 in the same city. The seizure, around 23.6 metric tons (26 tons) of cocaine, is considered to be one of the biggest drug busts on record.... (Associated Press)

Prices for cocaine and methamphetamine have jumped for the fourth quarter in a row, indicating a short supply of the dangerous drugs, according to the latest figures from the federal Drug Enforcement Administration. A gram of pure cocaine cost $137 in September, up from $93 last year, and meth jumped from $133 to $245.

"I don't think anyone is prepared to declare victory, but this is certainly encouraging news," said one official. But some challenge the logic of celebrating high drug prices. “When prices go up, drug cartels are making money. More people are going to enter the market because it's more profitable," said one observer. (More DEA stories.)

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