Paraguay's anti-drug agency, Senad, announced the confiscation of 4,013 kilos of cocaine at the port in the capital Asuncion, saying it was hidden in sugar sacks that were set for delivery to Belgium. 

The more than four metric tons of cocaine would have a street value in Europe in the region of €220 million (roughly $240 million), Senad said in a statement on Tuesday. 

Europe and the US are the largest markets for cocaine originating in Latin America, generally in Colombia, Peru and Bolivia. 

The route to Europe via Paraguay, Argentina, or Brazil is increasing in significance, according to a recent UN report, as smugglers try to throw investigators off the scent.

President Pena says seizure 'sends a signal' to drug gangs

President Santiago Pena told journalists that the record discovery, made as part of "Operation Sweetness," added to a series of "very sad episodes" in Paraguay as narcotics smugglers seek to use the strategically located country more. 

He said he hoped that the seizure would disrupt the cocaine trade, and said police were trying to track down those responsible. 

"I think it sends a signal to organized gangs not to use Paraguay as transit; they're going to find authorities that are determined and working in a coordinated way," Pena said, promising further efforts to boost port security.

"Gangs are not going to be able to avoid all the controls that we are implementing," he said.

Record seizures at European ports last year

European ports seized more than 300 tons of cocaine last year, with a record 121 tons confiscated in Belgium's biggest port of Antwerp alone — a 10% increase on the previous year.

The vast port at Rotterdam in the Netherlands is another core point of entry for the contraband.

msh/lo (AP, dpa, EFE)