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A farmer holds coca leaves collected from his plants in Cauca, Colombia, January 27, 2017. Photo/REUTERS/Jaime Saldarriaga
BOGOTA – President Gustavo Petro admits that cocaine and oil always compete for Colombia’s main export position. Petro’s statement on Friday (15/9/2023) sparked controversy.
Petro’s opponents accuse him of creating a “narco state,” while the president insists market forces are responsible for the recent spike in cocaine production.
“Cocaine has several times been Colombia’s first export product, and if not, its second,” wrote Petro in X.
He explained, “Everything depends on the international price of the two products, if oil prices fall, cocaine is the biggest export, if international oil prices rise, then oil (first) and cocaine second.”
Under Petro’s leadership, Colombia has largely abandoned its policy of burning coca plantations, and has focused more on arresting senior drug gang leaders.
Meanwhile, Petro has allowed small coca farmers to keep their crops, and entered into ceasefire agreements with some of the country’s largest armed militias.
Many of these armed militias finance their guerrilla operations with cocaine profits.
Amid this loosening of drug policies, cocaine cultivation reached a record high in Colombia last year, according to a UN report.
“With the potential for drug production to increase by 24% in 2021, cocaine will overtake oil as Colombia’s most profitable export before the end of this year,” said a Bloomberg report on Thursday.