DUE to dwindling supply in the market, the market value of shabu, the most-commonly used illegal drugs in the country, recently rose to P6.9 million per kilo from P6.8 million.
“Its value in the local market, the street value, is P6.8 million before. Now, it rose due to crisis (in supply),” said Philippine Drug Enforcement Agency (PDEA) chief Wilkins Villanueva.
Villanueva bared this last Wednesday after 60 kilos of alleged shabu were seized from suspected pusher Jalon Supe Laureta, who was arrested in a buy-bust operation in Marilao, Bulacan.
Villanueva said the seized drugs were valued at P414 million due to changes in the market value of shabu.
“It’s now P6.9 million per kilo. So we pegged the value of 60 kilos to P414 million…The is now different because the prevailing price now is P6.9 (million per kilo),”Villanueva said.
PDEA spokesman Derrick Carreon said shabu supply in the market has been “constricted” due “to the series of operations involving huge volumes of confiscation.”
Asked when the market value of shabu went up, Carreon said: “I don’t have any specifics on that, it’s the operatives who were able to monitor that.”
“It was only yesterday when I learned about it, the increase from P6.8 million to P6.9 million (per kilo),” Carreon said.
Villanueva also announced the arrest of Laureta’s brother, Joseph, in a buy-bust operation in Imus, Cavite on Wednesday. Villanueva said four kilos of shabu, worth P27.6 million, were seized from Joseph.
