According to 2005 data, production was valued at $13 billion, the wholesale industry priced at $94 billion and retail estimated to be worth $332 billion. The wholesale valuation for the drugs market is higher than the global equivalent for cereals, wine, beer, coffee, and tobacco combined.
I couldn’t see the full report from your link, but global grain (cereal) production is around 2.2 billion tons per year. Wholesale price fluctuates, but it is around $1/kg, so ~$2 trillion per year. This is more than an order of magnitude bigger than your illicit drug wholesale value.
He’s saying that the value of the global cereal market alone is $2tr, which exceeds the value of the wholesale drugs market, contra what you say in your piece.
Okay. So the source I found was probably wrong. I can’t see how this has any significance on the argument, so it would have been more useful to say “this isn’t important for the argument, but just so you know … ”
I couldn’t see the full report from your link, but global grain (cereal) production is around 2.2 billion tons per year. Wholesale price fluctuates, but it is around $1/kg, so ~$2 trillion per year. This is more than an order of magnitude bigger than your illicit drug wholesale value.
Sorry, I don’t see what your point is. Could you expand?
He’s saying that the value of the global cereal market alone is $2tr, which exceeds the value of the wholesale drugs market, contra what you say in your piece.
Okay. So the source I found was probably wrong. I can’t see how this has any significance on the argument, so it would have been more useful to say “this isn’t important for the argument, but just so you know … ”
If illicit drugs were greater expenditure than grains, that would be amazing. But I agree, not that important to the argument.