Authorities seize half a billion dollars worth of cocaine in one of New Zealand's biggest drug busts

New Zealand authorities have seized more than $500 million worth of cocaine in what police say is one of the biggest-ever drug hauls in the country.

About 3.2 tonnes was found "afloat" in the Pacific Ocean in recent weeks and has since been transported back to New Zealand for destruction. 

"This is one of the single biggest seizures of illegal drugs by authorities in this country," Police Commissioner Andrew Coster said in a statement. 

"While this disrupts the syndicate's operations, we remain vigilant given the lengths we know these groups will go to circumvent coming to law enforcement's attention."

The shipment originated from South America and was likely destined for Australia, Coster said. No charges have been laid in relation to the seizure and investigations were ongoing.

"There is no doubt this discovery lands a major financial blow right from the South American producers through to the distributors of this product," said Coster.

"The significance of this recovery and its impact cannot be underestimated."

Customs acting comptroller Bill Perry said the seizure had taken an estimated $500 million worth of cocaine off the market.

Authorities seize half a billion dollars worth of cocaine in one of New Zealand's biggest drug busts
Photo credit: New Zealand Police/Supplied

The seizure highlighted how organised crime groups were trying to utilise this part of the world, he said.

In separate incidents last year, police seized 190kg of cocaine and arrested seven people in Auckland in November, while a then record-breaking 700kg of the drug was confiscated in Tauranga in March