Colombia's Coca Glut and its Impact on Farmers

Colombia is experiencing a glut of coca leaves due to increased efficiency in cocaine production, political changes, and unintended consequences of policies. This surplus has led to rock-bottom prices, posing significant challenges for farmers who rely on coca cultivation. The increased production and larger labs have made the process more productive, resulting in a flood of cocaine in the market. The previous guerrilla organizations, FARC and ELN, which controlled the supply chain, no longer exist, allowing smaller criminal groups to enter the market. As a result, cocaine purchasers, mostly Mexican and European gangs, have the power to set lower prices, triggering an economic and social crisis for coca-dependent communities. The Colombian government's response, including subsidies and cash assistance, has been slow and limited, leaving farmers with few alternatives.