US Cocaine Supply Plummets

Prices rocket to highest in 20 years
By Colleen Barry,  Newser Staff
Posted Oct 3, 2007 5:46 AM CDT
Graphic charts the mean price of cocaine.   (Associated Press)
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(Newser) – The cocaine supply has dropped sharply in the last year in 37 US cities, which law enforcement officials attribute to a crackdown on drug cartels by Mexican authorities and a record volume of drugs seized at sea. New York, Los Angeles and San Francisco were among major cities experiencing sharp reductions in supply. The shortage has driven the price of cocaine to its highest level in almost 20 years.

In just the six months ending in June, the cost of a pure gram of cocaine jumped 24% to $119. The statistics, reported by the Office of National Drug Control Policy, comes as the Bush administration prepares to ask Congress for nearly $1 billion to help Mexico continue to fight traffickers.