Why US strikes are failing to stop the global cocaine industry's boom

US strikes against cocaine boats are failing to curb the global industry. Smugglers are shifting routes and tactics, supply is at a record high, prices are plummeting, and purity levels are exceptionally high in the US and Europe.

US strikes against fast cocaine smuggling boats are failing to stop the global drug industry's boom. 13 months after the operation began, smugglers are changing tactics: they attach metal containers loaded with cocaine to the hulls of cargo ships in the port of Buenaventura, move shipments eastward through the Amazon river network, and sail close to the shore to evade airstrikes. According to law enforcement officials on four continents, record amounts of cocaine continue to flow into the US, Europe, and Australia. Prices have hit lows: in Miami, cocaine sells for about $16,500 per kilogram, well below the historical range of $22,000–$25,000. In Europe, the price has dropped from $45,000 to $16,000 in some cities, and purity levels reach 98%. In France, authorities seized a record 92 tons of cocaine in 2025, a 204% increase compared to 2022. Researchers argue that the military operation emphasizes a more ostentatious show of force than a genuine disruption of smuggling.