Colombia’s national newspaper, El Nacional, has published a column in which it says President Juan Manuel Santos has made a decision to increase the price of cocaine by five percent.
The newspaper quoted Colombian President Juan Carlos Osorio Bernero as saying in the column published Thursday.
It said the increase in cocaine would be made effective July 1, 2018, and that Santos had given his approval to the measure.
The increase will be imposed from July 1 through June 30, 2019, according to the government.
Colombia’s National Institute of Statistics and Geography has reported that cocaine production rose by 25 percent between July 1 and June 30.