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InvisibleveggieM

Registered: 07/25/04
Posts: 17,504
Organised crime gangs cashing in on huge cocaine profits [AU]
    #9695990 - 01/28/09 06:23 PM (15 years, 2 months ago)

Organised crime gangs cashing in on huge cocaine profits
January 29, 2009 - news.com.au

    * New players riding cocaine wave
    * Criminals making ten-fold profit
    * Competition drives 40pc price fall

AUSTRALIA'S organised crime landscape is being transformed by multinational cartels cashing in on huge profits in the nation’s burgeoning cocaine market.

In some cases, a kilogram of cocaine bought for $20,000 in the US can now be sold in Australia for $200,000, making it one of the most attractive drug markets in the world.

Lebanese and Italian groups have traditionally dominated the Australian cocaine trade because of their highly organised structure and strong connections with South American cartels.

But in recent years, just about every major organised crime group, from bikies to Triads through to Serbian groups, have begun trading in the illicit drug - and are even working together.

Authorities are closely monitoring prices as an indicator of the amount of cocaine available, with police intelligence suggesting criminals are manipulating supply in order to maximise their cut.

But the influx of players vying for domination in Australia’s major cities, together with an unrelenting flow of the drug through smuggling routes, has seen the price of cocaine plummet.

Despite the strong profits, the price of the drug has been slashed by up to 42 per cent within a 12-month period, according to the latest figures from the Australian Crime Commission (ACC).

The street-price for a gram of cocaine fell from $350 in New South Wales and $250 in South Australia to $200 in both states in the 2006/07 financial year.

ACC chief executive officer Alistair Milroy confirmed the increased number of groups entering the trade could be a factor in the price cuts.

"Organised criminal groups employ a range of strategies to deliberately manipulate their control over illicit drug markets or to enter new drug markets," Mr Milroy said.

"This may include aggressive marketing through undercut or reduced prices, or agreements between major players to set prices."

He also said economic conditions and "perceived market placing" were also factors.

The NSW Crime Commission has found that the wholesale price plummeted by half during the following year.

It is believed that the price of the drug in Sydney - traditionally the nation's biggest cocaine market - has been slowly rising in recent months but it is not yet apparent if it is due to a slowdown in supply.

"At the end of the year, the kilogram price of cocaine was about half of its peak," the NSW Crime Commission said in its 2007-08 annual report.

"The wholesale price remains a good indicator of the quantities available in the market."

Despite huge seizures in recent years, authorities appear to have struggled to stem the flow of the drug, as indicated in the falling price.

A total of 124kg of cocaine was seized by Australian authorities in the 2005/06 financial year.

In the following year, a whopping 610kg was seized by customs and an equally-impressive 634kg was uncovered by state and federal police.

Customs alone seized 649kg of the drug in 2008.

The Australian Federal Police declined to answer questions on the availability of the drug and said it would just be speculation if it did so.

Customs refused to answer any questions about how much of an impact recent seizures have had on the flow of cocaine into Australia.

A Customs spokeswoman said: "we can’t really speculate on that."

While many studies have suggested that the drug is traditionally consumed by those with a high social standing or the more hardcore drug experimenters, recent research from the Australian Institute of Health and Welfare (AIHW) found that use was increasing at a high rate.

The number of Australians who had ever used cocaine grew from 775,000 in 2004 to exceed one million in 2007, according to the AIHW’s National Drug Strategy Household Surveys.

"Most users usually obtained cocaine from a friend or acquaintance and usually used the drug in their own home or at a friend’s house," the AIHW said in the report of the most recent survey.

"Among recent users, one in ten reported that all of or most of their friends use cocaine."

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Invisiblefilthee
DWWP
Male

Registered: 10/17/08
Posts: 4,257
Loc: australia
Re: Organised crime gangs cashing in on huge cocaine profits [AU] [Re: veggie]
    #9696529 - 01/28/09 07:45 PM (15 years, 2 months ago)

no gang drug wars hmmm

the organized crime bosses here must be educated and living above the radar as legit businessmen or politicians or something

nah impossible

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InvisibleGreen_T
 User Gallery

Registered: 10/02/08
Posts: 4,042
Loc: UK Flag
Re: Organised crime gangs cashing in on huge cocaine profits [AU] [Re: filthee]
    #9696564 - 01/28/09 07:50 PM (15 years, 2 months ago)

If you could buy something and make a 1,000 percent profit by selling it, is any law going to get in the way of you doing your business? That is what legislators fail to understand. With all that profit, any smart businessman invests some of it back so they can move more product, and easily out-fund the government.

If coke prices go up, then what happens to the crime that supports the habit? People will have to steal more to supply themselves! So is seizing supply a good thing for the people on the streets?


--------------------

"I have sworn upon the altar of god eternal hostility against every form of tyranny over the mind of man" - Thomas Jefferson

Legalize Meth | Drug War Victims

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InvisibleEgo Death
Justadropofwaterinanendlesssea
 User Gallery


Registered: 04/27/03
Posts: 10,447
Loc: The War Machine
Re: Organised crime gangs cashing in on huge cocaine profits [AU] [Re: veggie]
    #9697552 - 01/28/09 10:40 PM (15 years, 2 months ago)

The laws of supply and demand prove the drug prevention efforts to be fundamentally flawed, as usual.

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OfflineIdeLOLogies
Strange

Registered: 03/26/08
Posts: 461
Last seen: 10 years, 7 months
Re: Organised crime gangs cashing in on huge cocaine profits [AU] [Re: Ego Death]
    #9698496 - 01/29/09 03:56 AM (15 years, 2 months ago)

Atleast we can sleep knowing that aslong as the "war on drugs" continues, we'l always be able to get hold of what ever drug(s) we want.

Interesting read, it's a shame nothing will change.


--------------------
God takes those closest to us, because it makes him feel better about himself. He is a very vengeful God. He's all pissed off about something we did thousands of years ago. He just can't get over it, so he doesn't care who he takes. Children, puppies, it don't matter to him, so long as it makes us sad.

Why does God give us anything?

Look at it this way: if you want to make a baby cry, first you give it a lollipop. Then you take it away. If you never give it a lollipop to begin with, it would have nothin' to cry about. That's like God, who gives us life and love and help just so that he can tear it all away and make us cry, so he can drink the sweet milk of our tears. You see, it's our tears, Stan, that give God his great power.

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OfflineGavn
Im a Fun Gi
Male


Registered: 01/22/08
Posts: 425
Loc: Sydney NSW
Last seen: 11 years, 9 months
Re: Organised crime gangs cashing in on huge cocaine profits [AU] [Re: IdeLOLogies]
    #9779625 - 02/11/09 05:08 PM (15 years, 1 month ago)

i love drugs, money and drug money


--------------------
:lovemeds:

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