Cannabis now as profitable as cocaine as supply from legal markets surges
Irish criminal gangs are increasingly profiting from cannabis smuggled from countries where the drug has been legalized, such as Canada and Thailand. Authorities report that the ease of sourcing and lower wholesale prices have shifted the economics of the illicit drug trade.
Why it matters
The globalization of legal cannabis markets is creating unintended consequences for international law enforcement and organized crime dynamics.
Profits made by Irish drugs gangs from cannabis now rival those from the cocaine trade, as criminals source it at low prices from countries where it has been legalised or laws relaxed.
Changes in the international cannabis wholesale market are so significant that the economics of the Irish drugs trade have fundamentally shifted, Garda sources told The Irish Times.
It has become much easier to buy good-quality herbal cannabis – from the US , Canada and Thailand – at lower wholesale prices, greatly increasing the profits to be made in the Republic and reducing the risks for the Irish criminals involved.
Det Chief Supt Seamus Boland, who leads the Garda’s Drugs and Organised Crime Bureau (DocB), told The Irish Times the barriers to entry to the cannabis trade, by those buying at source abroad, have reduced, encouraging smaller operators.
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