(Bloomberg) -- The area planted with the raw ingredient used to make cocaine in the world’s No. 2 producer fell for the first time in years, Peruvian authorities said Wednesday. 

Peru is second only to Colombia when it comes to growing coca, the plant that can be processed into cocaine, according to the United Nations. 

The planted area fell by 2.3% in 2023, the first drop in at least seven years, authorities said. Overall,  92,784 hectares (229,274 acres) have been planted with coca in the Andean nation. The plant is legal in Peru, where it is often chewed raw, but much of the production is used to make illegal cocaine. 

While the government touted the figures as a win in its fight against illegal drugs, the drop is small compared to recent trends. Coca plantation areas in Peru have more than doubled since 2015, according to figures compiled by anti-drug authority Devida. 

Colombia’s planted area doubled that of Peru in 2022, according to satellite imagery analyzed by the UN. Production is so high that Bloomberg Economics expects that cocaine will overtake oil as Colombia’s top export. 

A global supply glut of cocaine has prompted rising seizures by authorities worldwide. Nearby Ecuador has also become one of the most violent countries in the world as cartels fight for control of shipping routes for cocaine. 

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