Opium Coffee Trade Crumbles – Opium Trade Facebook
The price of opium, once the most valuable commodity on earth, has plunged sharply in the past few months due to a surge in trade in the illicit drug.
In February, the global opium trade was worth around $1.2 trillion.
However, after China banned the import of the drug, the trade has plunged to $542 million in February and $4.5 billion in March.
“China’s actions have resulted in a sharp decline in the global price of the opium,” said a trade source in the trade.
“In the past month, the price of all opium products has declined by more than 80 percent.
As a result, prices for all opium-containing drugs have dropped by more that 70 percent in the last three months,” the source said.
While the drop in global prices has led to an exodus of buyers, the black market in the drug has not disappeared.
According to the trade source, many people are still selling the drugs in their homes and businesses, as it is considered safer than buying them from the black markets.
“A significant portion of the trade is done in the dark,” the trade official said.
“The trade is not as organised as before.
People don’t know who to trust, or who to turn to.”