Recently, the cost of cocaine skyrocketed to 20,000 with the influx of high-quality supply into the city.Just months ago, it lingered around 13,000 – 14,000 per gram before sharply rising.
“The current cost is between 18,000 and 20,000, depending on the quality of the cocaine. In upscale circles, the cost has reached 20,000. In some cases, when the buyer was desperate, it was sold for more than 20,000,” sources in Hyderabad police told TOI.
On Saturday, police announced the arrest of Nigerian national Okaro Cosmos Ramsey, who was selling cocaine to his customers in Hyderabad for around 20,000 per gram. Police found that Cosmos had originally bought 30 grams from his supplier, identified as Obasi, in Bangalore in September 2023 for 5,000 per gram. Ramsey was left with 16 grams when he was caught on Friday.
In March, when Cyberabad police busted a rave party at a hotel in Gachibowli, they found that the users had allegedly bought the drug for 14,000 a gram. Ten years ago, cocaine was sold in the city for around 4,500 a gram.
“The main reason for the price hike was that many dealers were unwilling to come to the city to deliver the drug for fear of being monitored. If the drug is delivered in Hyderabad, the drug suppliers charge a premium price, citing the risk,” the source said.
This has led to a decline in the supply of drugs, especially cocaine, to the city. Police surveillance of drug users to get clues about the peddlers has made them cautious.
As a result, dealers are increasingly going contactless, sending drugs such as LSD and MDMA as cargo in private transport buses, disguised by keeping the drivers in the dark.
The cost of each blot of LSD is currently around 3,000 and in December 2023 it was around 2,500. Similarly, each gram of MDMA was selling for no less than 15,000 per gram, compared to the previous price of 6,000.
