COCAINE with a retail value of around €2 million has been found on Valencia’s El Saler beach.
A resident contacted police after going for a seaside stroll on Tuesday and discovering four black bags.
The Valencia Policia Local went to the location at the Casal d’Esplai and found the bags covered by netting.
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They contained sealed black packages and suspecting they might be drugs, the Policia Local contacted the Guardia Civil at Perellonet.
The packages were found to contain 120 kilos of cocaine which is currently valued at €18,000 per kilo.
The drugs were transferred to Guardia Civil headquarters in Valencia.
An enormous surge in cocaine shipments through ports like Valencia, Algeciras, and Barcelona – bound for the European market – has dramatically increased supply and reduced the drug’s value.
The price of cocaine in Spain has plummeted from around €33,000 per kilo to €18,000.
Spanish police and customs officials partially attribute the trend to the ban on chemical fumigation of plantations in countries like Colombia.
Much of the European market is thought to be dominated by drug clans from Albania and other regions of the Balkans in cahoots with cartels in Colombia and Ecuador.
