IBOV 172,060.43 ▲ 0.42% IPC MEX 72,006.05 ▲ 0.16% MERVAL 2,848,945 — — USD/BRL5.59▲ 0.13% USD/MXN18.60▲ 0.01% USD/CLP984.20▲ 0.14% USD/COP3,279▼ 0.87% USD/PEN3.41▼ 0.02% USD/ARS1,544▼ 0.03% USD/UYU40.52▲ 3.32% USD/PYG6,174▲ 1.84% USD/BOB11.63▲ 1.12% USD/DOP60.48▲ 0.13% USD/CRC446.01▲ 1.66% USD/GTQ7.64▲ 3.16% USD/HNL26.90▲ 3.29% USD/NIO36.62▲ 2.73% USD/VES902.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 2.41% USD/TTD6.72▲ 2.22% EUR/BRL6.20▼ 0.54% BRENT 92.41 ▼ 0.38% WTI 86.11 ▼ 0.49% IRON ORE 161.91 — — COPPER 6.21 ▼ 1.11% GOLD 3,953 ▼ 1.19% SILVER 51.06 ▼ 1.58% SOY 1,229 — 0.00% CORN 448.00 — 0.00% WHEAT 597.25 ▼ 0.38% COFFEE 268.95 ▼ 0.02% SUGAR 18.02 ▼ 2.49% ORANGE JUICE 146.60 ▼ 0.10% COTTON 82.88 ▲ 5.55% COCOA 5,032 ▲ 2.55% BEEF 218.98 ▼ 0.10% CATTLE 332.63 ▲ 0.69% LITHIUM 61.07 ▲ 1.82% PETR4 43.55 ▼ 3.11% VALE3 64.43 ▼ 0.57% ITUB4 41.72 ▲ 1.26% BBDC4 14.33 ▼ 1.44% ABEV3 15.85 ▲ 0.38% BBAS3 16.89 ▼ 1.23% B3SA3 14.80 ▲ 2.21% WEGE3 51.61 ▲ 1.30% PRIO3 61.47 ▲ 2.42% SUZB3 53.80 ▼ 1.21% RENT3 30.24 ▲ 1.51% AZZA3 15.37 ▲ 4.34% CSAN3 3.03 ▲ 13.06% RAIZ4 0.30 ▼ 98.60% PCAR3 2.54 ▼ 0.78% GMAT3 4.08 ▲ 7.09% PSSA3 45.98 ▼ 1.48% CVCB3 0.86 — 0.00% POSI3 3.32 ▲ 5.40% SLCE3 17.05 ▼ 0.23% NATU3 5.62 ▲ 1.26% BRKM5 2.92 — 0.00% RANI3 8.39 ▼ 0.71% CSNA3 4.52 ▲ 3.20% IBOV 172,060.43 ▲ 0.42% IPC MEX 72,006.05 ▲ 0.16% MERVAL 2,848,945 — — USD/BRL 5.59 ▲ 0.07% USD/MXN 18.60 ▲ 0.02% USD/CLP 984.41 ▲ 0.16% USD/COP 3,279 ▼ 0.87% USD/PEN 3.41 ▼ 0.02% USD/ARS 1,544 ▼ 0.03% USD/UYU 40.52 ▲ 3.32% USD/PYG 6,174 ▲ 3.14% USD/BOB 11.63 ▲ 1.12% USD/DOP 60.48 ▲ 0.05% USD/CRC 446.01 ▲ 1.79% USD/GTQ 7.64 ▲ 3.16% USD/HNL 26.90 ▲ 3.29% USD/NIO 36.62 ▲ 2.73% USD/VES 902.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 2.41% USD/TTD 6.72 ▲ 2.22% EUR/BRL 6.19 ▼ 0.58% BRENT 92.41 ▼ 0.38% WTI 86.11 ▼ 0.49% IRON ORE 161.91 — — COPPER 6.21 ▼ 1.11% GOLD 3,953 ▼ 1.19% SILVER 51.06 ▼ 1.58% SOY 1,229 — 0.00% CORN 448.00 — 0.00% WHEAT 597.25 ▼ 0.38% COFFEE 268.95 ▼ 0.02% SUGAR 18.02 ▼ 2.49% ORANGE JUICE 146.60 ▼ 0.10% COTTON 82.88 ▲ 5.55% COCOA 5,032 ▲ 2.55% BEEF 218.98 ▼ 0.10% CATTLE 332.63 ▲ 0.69% LITHIUM 61.07 ▲ 1.82% PETR4 43.55 ▼ 3.11% VALE3 64.43 ▼ 0.57% ITUB4 41.72 ▲ 1.26% BBDC4 14.33 ▼ 1.44% ABEV3 15.85 ▲ 0.38% BBAS3 16.89 ▼ 1.23% B3SA3 14.80 ▲ 2.21% WEGE3 51.61 ▲ 1.30% PRIO3 61.47 ▲ 2.42% SUZB3 53.80 ▼ 1.21% RENT3 30.24 ▲ 1.51% AZZA3 15.37 ▲ 4.34% CSAN3 3.03 ▲ 13.06% RAIZ4 0.30 ▼ 98.60% PCAR3 2.54 ▼ 0.78% GMAT3 4.08 ▲ 7.09% PSSA3 45.98 ▼ 1.48% CVCB3 0.86 — 0.00% POSI3 3.32 ▲ 5.40% SLCE3 17.05 ▼ 0.23% NATU3 5.62 ▲ 1.26% BRKM5 2.92 — 0.00% RANI3 8.39 ▼ 0.71% CSNA3 4.52 ▲ 3.20%
since 2009
Thursday, November 12, 2026

Colombian Senators Submit Bill to Legalise Multi-Billion Dollar Cocaine Industry

By · · 2 min read

RIO DE JANEIRO, BRAZIL – The bill was proposed by Senators Ivan Marulanda and Feliciano Valencia, who say they want to “open up the conversation to public opinion” about Colombia’s relationship with the lucrative party drug. They argue that legalisation would save the South American country hundreds of millions of dollars and strip power from violent criminal groups.

According to Marulanda, the bill”proposes that the state buy the entirety of Colombia’s coca harvest” from the country’s 200,000 farmers involved in growing the cocaine ingredient. He says that a billion dollars are spent by the state each year on “programs for coca eradication”, while he estimates that it would cost US$680 million to purchase the entire annual crop. He added that under legalisation, protections could be placed on forests that have lost 75,000 hectares to coca farming.

The bill was proposed by senators Ivan Marulanda and Feliciano Valencia, who say they want to ‘open up the conversation among public opinion’ about Colombia’s relationship with the lucrative party drug.
The bill was proposed by senators Ivan Marulanda and Feliciano Valencia, who say they want to ‘open up the conversation among public opinion’ about Colombia’s relationship with the lucrative party drug.
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Marulanda stressed that the most “important thing here is to save lives”, claiming that the state has “lost sovereignty over Colombian territory to the dominion of organised criminal mafias.” Colombia is the world’s largest producer of cocaine, and the lucrative industry has given rise to numerous ruthless gangs such as the famous Medellín Cartel run by Pablo Escobar.

The bill also says that with regulation, more research could be conducted into the use of cocaine as a painkiller rather than a recreational party drug. However, despite hoping that the bill will be considered before the 2022 election, both senators concede it is still far from coming into law. Marulanda explains that Colombia’s “military and police-driven drugs policy” has become  “more entrenched, more stubborn, and more severe in its application”.

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