IBOV 176,090 ▲ 0.20% IPSA 10,928 ▲ 0.16% IPC MEX 66,659 ▲ 1.04% MERVAL 3,233,513 ▼ 0.06% COLCAP 2,296.67 ▼ 0.48% BVL PERÚ 56,428.20 ▲ 1.50% USD/BRL5.07▼ 1.27% USD/MXN17.43▼ 0.56% USD/CLP923.83▼ 0.97% USD/COP3,252▼ 0.33% USD/PEN3.39▼ 0.67% USD/ARS1,473▼ 0.67% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.34▲ 0.44% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.25% USD/TTD6.75▲ 1.19% EUR/BRL5.79▼ 0.45% BRENT 84.67 ▲ 1.64% WTI 79.07 ▲ 1.19% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.17% GOLD 4,063 ▲ 1.66% SILVER 58.99 ▲ 2.35% SOY 1,192 ▼ 0.83% CORN 460.50 ▲ 5.20% WHEAT 645.25 ▲ 2.91% COFFEE 324.30 ▼ 5.01% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 138.15 ▼ 3.09% COTTON 81.68 ▲ 2.32% COCOA 5,916 ▲ 3.86% BEEF 231.73 ▼ 1.28% CATTLE 348.85 ▼ 1.55% LITHIUM 71.31 ▲ 1.52% PETR4 40.74 ▲ 0.20% VALE3 74.03 ▲ 1.62% ITUB4 43.45 ▼ 0.16% BBDC4 18.55 ▼ 1.17% ABEV3 15.85 ▲ 0.13% BBAS3 20.52 ▲ 1.38% B3SA3 15.32 ▲ 1.32% WEGE3 44.21 ▼ 0.41% PRIO3 57.00 ▼ 0.35% SUZB3 41.25 ▼ 0.58% RENT3 40.36 ▲ 0.40% AZZA3 18.78 ▼ 2.29% CSAN3 3.88 ▼ 0.51% RAIZ4 0.32 ▼ 3.03% PCAR3 2.48 ▼ 4.25% GMAT3 3.95 ▲ 0.25% PSSA3 54.18 ▲ 0.26% CVCB3 1.27 ▲ 1.60% POSI3 3.94 ▼ 1.25% SLCE3 13.72 ▼ 1.08% NATU3 8.51 ▼ 1.05% BRKM5 6.65 ▼ 4.18% RANI3 8.02 ▲ 0.88% CSNA3 5.13 ▼ 2.10% CMIN3 5.19 ▼ 4.77% USIM5 8.30 ▼ 0.95% GGBR4 23.17 ▲ 1.53% ENEV3 26.79 ▼ 0.33% CPFE3 47.20 ▲ 0.77% CMIG4 11.12 ▲ 0.45% EQTL3 40.68 ▲ 1.17% LREN3 14.13 ▼ 0.14% VIVT3 35.41 ▲ 1.96% RAIL3 14.13 ▲ 0.14% KLABIN 17.38 ▼ 0.57% RAIA DROGASIL 18.37 ▲ 0.93% RDOR3 35.56 — 0.00% HAPV3 10.64 ▲ 1.72% FLRY3 16.31 ▲ 0.99% SMTO3 16.15 ▼ 1.34% UGPA3 29.96 ▼ 3.14% VBBR3 32.87 ▲ 0.34% BBSE3 40.18 ▼ 0.25% BPAC11 57.90 ▲ 0.66% CURY3 32.76 ▼ 1.09% AERI3 2.08 — 0.00% VIVARA 23.34 ▲ 1.00% COMPASS 25.13 ▲ 1.45% VAMOS 3.04 ▲ 0.66% SANB11 27.33 ▼ 0.15% ASAI3 8.64 ▼ 0.80% SBSP3 30.33 ▼ 0.13% WALMEX 49.65 — 0.00% GMEXICO 200.35 ▲ 2.43% FEMSA 233.35 ▲ 3.55% CEMEX 22.18 ▲ 1.84% GFNORTE 187.14 ▲ 2.78% BIMBO 56.68 ▲ 1.45% TELEVISA 9.51 ▼ 1.04% AMX 22.87 ▲ 1.24% GAP 387.02 ▼ 5.19% ASUR 277.52 ▼ 0.41% OMA 233.60 ▲ 0.12% KOF 182.19 ▲ 0.51% GRUMA 282.80 ▲ 0.51% KIMBER 38.37 ▲ 0.39% SQM-B 67,640 ▲ 0.64% COPEC 6,067 ▲ 0.16% BSANTANDER 78.80 ▲ 0.77% FALABELLA 5,925 ▲ 0.34% ENELAM 85.24 ▲ 1.24% CENCOSUD 2,057 ▲ 0.83% CMPC 1,078 — 0.00% BANCO CHILE 188.20 ▲ 1.73% LATAM AIR 24.81 ▼ 0.36% YPF 77,275 ▲ 0.13% GGAL 8,020 ▼ 0.74% PAMPA 5,200 ▼ 0.48% TXAR 662.00 ▼ 0.38% ALUAR 959.00 ▼ 0.57% TGS 9,710 ▲ 1.46% CEPU 2,309 ▼ 0.43% MIRGOR 16,800 ▼ 1.18% COME 45.22 ▲ 0.98% LOMA NEGRA 3,560 ▲ 1.79% BYMA 303.50 ▼ 1.54% TELECOM ARG 4,283 ▲ 0.76% ECOPETROL 16.03 ▲ 0.91% BANCOLOMBIA 81.65 ▲ 1.53% GRUPO AVAL 4.93 ▲ 0.41% CREDICORP 390.45 ▲ 0.32% SOUTHERN COPPER 179.80 ▲ 3.02% BUENAVENTURA 30.61 ▲ 2.65% MERCADOLIBRE 1,873 ▲ 0.30% NUBANK 14.02 ▲ 2.52% XP 16.78 ▲ 2.47% PAGSEGURO 9.24 ▼ 0.48% STONE 11.22 ▲ 0.63% GLOBANT 31.65 ▼ 1.46% TECNOGLASS 43.27 ▲ 1.00% GAP AIRPORT 222.22 ▼ 4.53% ASUR 277.52 ▼ 0.41% OMA AIRPORT 107.37 ▲ 1.17% AMX ADR 26.19 ▲ 0.61% FEMSA ADR 134.05 ▲ 3.91% CEMEX ADR 12.73 ▲ 2.25% PETROBRAS ADR 17.95 ▲ 0.36% VALE ADR 14.57 ▲ 2.72% ITAU ADR 8.56 ▲ 1.00% SANTANDER BR 5.41 ▲ 1.03% AMBEV ADR 3.10 ▲ 1.31% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 2.00% LATAM ADR 53.67 ▲ 0.64% BTC 64,445 ▲ 3.54% ETH 1,865 ▲ 5.15% SOL 76.91 ▲ 2.74% XRP 1.10 ▲ 3.21% BNB 579.12 ▲ 2.20% ADA 0.16 ▲ 4.31% DOGE 0.07 ▲ 3.35% AVAX 6.63 ▲ 2.88% LINK 8.24 ▲ 4.63% DOT 0.85 ▲ 1.85% LTC 44.48 ▲ 2.28% BCH 237.03 ▲ 0.34% TRX 0.33 ▲ 0.33% XLM 0.18 ▲ 1.85% HBAR 0.07 ▲ 0.45% NEAR 2.03 ▲ 5.96% ATOM 1.55 ▲ 1.17% AAVE 99.28 ▲ 5.21% SELIC 14.25% EMBRAER 82.92 ▼ 0.11% EMBRAER ADR 65.34 ▲ 1.33% JBS 11.80 — 0.00% JBS BDR 59.89 ▼ 1.19% MBRF3 16.10 ▲ 2.42% MBRFY 3.10 ▲ 1.64% INTER 5.67 ▲ 0.27% IBOV 176,090 ▲ 0.20% IPSA 10,928 ▲ 0.16% IPC MEX 66,659 ▲ 1.04% MERVAL 3,233,513 ▼ 0.06% COLCAP 2,296.67 ▼ 0.48% BVL PERÚ 56,428.20 ▲ 1.50% USD/BRL 5.07 ▼ 1.27% USD/MXN 17.43 ▼ 0.56% USD/CLP 923.83 ▼ 0.97% USD/COP 3,252 ▼ 0.33% USD/PEN 3.39 ▼ 0.67% USD/ARS 1,473 ▼ 0.67% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.34 ▲ 0.44% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▲ 0.25% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.79 ▼ 0.45% BRENT 84.67 ▲ 1.64% WTI 79.07 ▲ 1.19% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.17% GOLD 4,063 ▲ 1.66% SILVER 58.99 ▲ 2.35% SOY 1,192 ▼ 0.83% CORN 460.50 ▲ 5.20% WHEAT 645.25 ▲ 2.91% COFFEE 324.30 ▼ 5.01% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 138.15 ▼ 3.09% COTTON 81.68 ▲ 2.32% COCOA 5,916 ▲ 3.86% BEEF 231.73 ▼ 1.28% CATTLE 348.85 ▼ 1.55% LITHIUM 71.31 ▲ 1.52% PETR4 40.74 ▲ 0.20% VALE3 74.03 ▲ 1.62% ITUB4 43.45 ▼ 0.16% BBDC4 18.55 ▼ 1.17% ABEV3 15.85 ▲ 0.13% BBAS3 20.52 ▲ 1.38% B3SA3 15.32 ▲ 1.32% WEGE3 44.21 ▼ 0.41% PRIO3 57.00 ▼ 0.35% SUZB3 41.25 ▼ 0.58% RENT3 40.36 ▲ 0.40% AZZA3 18.78 ▼ 2.29% CSAN3 3.88 ▼ 0.51% RAIZ4 0.32 ▼ 3.03% PCAR3 2.48 ▼ 4.25% GMAT3 3.95 ▲ 0.25% PSSA3 54.18 ▲ 0.26% CVCB3 1.27 ▲ 1.60% POSI3 3.94 ▼ 1.25% SLCE3 13.72 ▼ 1.08% NATU3 8.51 ▼ 1.05% BRKM5 6.65 ▼ 4.18% RANI3 8.02 ▲ 0.88% CSNA3 5.13 ▼ 2.10% CMIN3 5.19 ▼ 4.77% USIM5 8.30 ▼ 0.95% GGBR4 23.17 ▲ 1.53% ENEV3 26.79 ▼ 0.33% CPFE3 47.20 ▲ 0.77% CMIG4 11.12 ▲ 0.45% EQTL3 40.68 ▲ 1.17% LREN3 14.13 ▼ 0.14% VIVT3 35.41 ▲ 1.96% RAIL3 14.13 ▲ 0.14% KLABIN 17.38 ▼ 0.57% RAIA DROGASIL 18.37 ▲ 0.93% RDOR3 35.56 — 0.00% HAPV3 10.64 ▲ 1.72% FLRY3 16.31 ▲ 0.99% SMTO3 16.15 ▼ 1.34% UGPA3 29.96 ▼ 3.14% VBBR3 32.87 ▲ 0.34% BBSE3 40.18 ▼ 0.25% BPAC11 57.90 ▲ 0.66% CURY3 32.76 ▼ 1.09% AERI3 2.08 — 0.00% VIVARA 23.34 ▲ 1.00% COMPASS 25.13 ▲ 1.45% VAMOS 3.04 ▲ 0.66% SANB11 27.33 ▼ 0.15% ASAI3 8.64 ▼ 0.80% SBSP3 30.33 ▼ 0.13% WALMEX 49.65 — 0.00% GMEXICO 200.35 ▲ 2.43% FEMSA 233.35 ▲ 3.55% CEMEX 22.18 ▲ 1.84% GFNORTE 187.14 ▲ 2.78% BIMBO 56.68 ▲ 1.45% TELEVISA 9.51 ▼ 1.04% AMX 22.87 ▲ 1.24% GAP 387.02 ▼ 5.19% ASUR 277.52 ▼ 0.41% OMA 233.60 ▲ 0.12% KOF 182.19 ▲ 0.51% GRUMA 282.80 ▲ 0.51% KIMBER 38.37 ▲ 0.39% SQM-B 67,640 ▲ 0.64% COPEC 6,067 ▲ 0.16% BSANTANDER 78.80 ▲ 0.77% FALABELLA 5,925 ▲ 0.34% ENELAM 85.24 ▲ 1.24% CENCOSUD 2,057 ▲ 0.83% CMPC 1,078 — 0.00% BANCO CHILE 188.20 ▲ 1.73% LATAM AIR 24.81 ▼ 0.36% YPF 77,275 ▲ 0.13% GGAL 8,020 ▼ 0.74% PAMPA 5,200 ▼ 0.48% TXAR 662.00 ▼ 0.38% ALUAR 959.00 ▼ 0.57% TGS 9,710 ▲ 1.46% CEPU 2,309 ▼ 0.43% MIRGOR 16,800 ▼ 1.18% COME 45.22 ▲ 0.98% LOMA NEGRA 3,560 ▲ 1.79% BYMA 303.50 ▼ 1.54% TELECOM ARG 4,283 ▲ 0.76% ECOPETROL 16.03 ▲ 0.91% BANCOLOMBIA 81.65 ▲ 1.53% GRUPO AVAL 4.93 ▲ 0.41% CREDICORP 390.45 ▲ 0.32% SOUTHERN COPPER 179.80 ▲ 3.02% BUENAVENTURA 30.61 ▲ 2.65% MERCADOLIBRE 1,873 ▲ 0.30% NUBANK 14.02 ▲ 2.52% XP 16.78 ▲ 2.47% PAGSEGURO 9.24 ▼ 0.48% STONE 11.22 ▲ 0.63% GLOBANT 31.65 ▼ 1.46% TECNOGLASS 43.27 ▲ 1.00% GAP AIRPORT 222.22 ▼ 4.53% ASUR 277.52 ▼ 0.41% OMA AIRPORT 107.37 ▲ 1.17% AMX ADR 26.19 ▲ 0.61% FEMSA ADR 134.05 ▲ 3.91% CEMEX ADR 12.73 ▲ 2.25% PETROBRAS ADR 17.95 ▲ 0.36% VALE ADR 14.57 ▲ 2.72% ITAU ADR 8.56 ▲ 1.00% SANTANDER BR 5.41 ▲ 1.03% AMBEV ADR 3.10 ▲ 1.31% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 2.00% LATAM ADR 53.67 ▲ 0.64% BTC 64,445 ▲ 3.54% ETH 1,865 ▲ 5.15% SOL 76.91 ▲ 2.74% XRP 1.10 ▲ 3.21% BNB 579.12 ▲ 2.20% ADA 0.16 ▲ 4.31% DOGE 0.07 ▲ 3.35% AVAX 6.63 ▲ 2.88% LINK 8.24 ▲ 4.63% DOT 0.85 ▲ 1.85% LTC 44.48 ▲ 2.28% BCH 237.03 ▲ 0.34% TRX 0.33 ▲ 0.33% XLM 0.18 ▲ 1.85% HBAR 0.07 ▲ 0.45% NEAR 2.03 ▲ 5.96% ATOM 1.55 ▲ 1.17% AAVE 99.28 ▲ 5.21% SELIC 14.25% EMBRAER 82.92 ▼ 0.11% EMBRAER ADR 65.34 ▲ 1.33% JBS 11.80 — 0.00% JBS BDR 59.89 ▼ 1.19% MBRF3 16.10 ▲ 2.42% MBRFY 3.10 ▲ 1.64% INTER 5.67 ▲ 0.27%
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Tuesday, July 14, 2026

Uruguay Life & Society

FT points to Uruguay as new market for cocaine and speaks of the “burned or dismembered corpses” of the drug trade

By · August 29, 2022 · 3 min read

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By Michael Stott

According to the Financial Times, Paraguay, Uruguay and Chile are “the new additions” to the international drug trafficking market.

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An explosion that blew off the facade of two modest houses, killing at least five people. Two bodies hanging from a bridge over a busy road. At least 187 inmates killed, some beheaded, in two prison massacres.

Read also: Check out our coverage on Uruguay

This trail of blood would not be strange in Mexico or Colombia, marked by drug violence for decades. However, it happened last year in Guayaquil, the largest city in the once-quiet Ecuador.

The increase in violence in Uruguay due to drug trafficking draws attention abroad (Photo internet reproduction)
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In Uruguay, often described as the “Switzerland of Latin America,” 14 bodies turned up in a 10-day period this year. Three had been burned and one dismembered.

The Caribbean honeymoon of the head of Paraguay’s anti-drug prosecutor’s office ended in May with two bullets when a gunman executed him on the beach in front of his pregnant wife.

Behind this alarming expansion of violent crime into the smaller and previously more peaceful countries of Latin America is the growing cocaine trade. Cartel bosses, always eager to expand, are devising new routes to reach new markets.

“What we are seeing now is the culmination of the globalization of drug trafficking,” said Jimena Blanco, head of policy research for the Americas at Verisk Maplecroft.

Antwerp seized more cocaine last year than any other European port, almost 90 tons. Belgian customs said the three main countries of origin were Ecuador, Paraguay and Panama, none of them major producers of the drug.

Most of the cocaine destined for Europe is smuggled in shipping containers, and “when seizure rates reach 20 or 25 percent, drug traffickers often change routes,” said Jeremy McDermott, executive director of Insight Crime.

Along with the Brazilian port of Santos and the Costa Rican facility in Limón, Guayaquil is one of what McDermott calls a “second wave of ports” used for cocaine shipments in recent years. Paraguay, Uruguay and Chile are the new additions.

The situation is so dire that, according to the United Nations Office on Drugs and Crime (UNODC), all but three of Latin America’s 21 mainland countries are now “main countries of origin or transit” for cocaine. The exceptions are the small nations of Guyana, Belize and El Salvador.

The drug cartels have not only expanded their routes. They have also increased the overall size of the cocaine business and diversified into adjacent criminal activities.

After five decades of the U.S.-led drug war and billions of dollars spent intercepting and hunting down cartel bosses, the trade has never been greater.

Total cocaine production hit a new record of 1,982 tons in 2020, according to the UNODC, more than double that of 2014.

Cocaine in Europe has never been so plentiful or cheap in real terms, and traffickers are creating lucrative markets in Russia, China, and parts of Asia, where the drug is priced two to three times higher.

The big cartels have gone far beyond drug trafficking. Now they deal with refugees, extort businesses, kidnap the wealthy, and trade illegal timber and gold from the Amazon.

Organized crime in Chile has spread to illegal fishing, while the last business of the Mexican gangs, according to Blanco de Verisk, is smuggling abortion pills across the U.S. border.

The litany of dismal statistics from the failed drug war and its appalling human cost has led many politicians in Latin America to call for the legalization of cocaine.

However, as Shannon O’Neil, vice president of the Council on Foreign Relations in New York, points out: “These are not really drug cartels anymore. They are groups of organized crime. Even if you get rid of drugs, you still have extortion, robbery, human trafficking, gold smuggling. The objective should be: How is the Rule of Law inculcated?”

In a region notorious for corruption, weak law enforcement, and high homicide rates, it’s a difficult but vital task.

With information from El Observador

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