Cocaine price steady despite drug war gain

WASHINGTON, March 15 (UPI) -- Less Colombian cocaine is coming into the United States, but the price of the drug hasn't gone up, the U.S. Southern Command chief said Tuesday.

Gen. Bantz Craddock said last year 222 million metric tons of cocaine was interdicted coming from Colombia and more was eradicated by hand in the field, representing a 22 percent decrease.

"Why there isn't (a price increase in cocaine) I don't know," Craddock said. "It's a mystery to me."

He said the loss of Colombian cocaine has been offset slightly by the production of cocaine in Bolivia, which has gone up 18 percent. However, Peruvian cocaine production has dropped by 17 percent.

Craddock noted the price of cocaine in Europe is going up.

"Maybe it's a diversion of supply" to the United States, he told the Senate Armed Services Committee.