ANOTHER block of "floating cocaine" was found by a fisherman in the waters off Baras town in Catanduanes.

The Catanduanes Provincial Police Office said the cocaine block, which was sealed with a black packaging tape, was found by John Anthony Tabinas and was surrendered to authorities.

It will be turned over to the local crime laboratory for testing.

If proven to be cocaine, it will add up to the over P800 million worth of floating cocaine found in several areas in the eastern seaboard of the country since February 10.

Earlier, Philippine National Police Chief Oscar Albayalde said that according to their counterparts in Australia, the hundred millions worth of cocaine were intended for Australia, as cocaine has a better market value there due to its demand. (Third Anne Peralta-Malonzo/SunStar Philippines)