I'm kind of curious how much this matters to Colombia now. For this who haven't been following the drug wars, most of the action, and money, has moved to Mexico. If you only know this stuff through pop culture, Mexico today is what Colombia was in the 80's and 90's: the violence, level of corruption, money flowing through, etc.
Colombia produces the raw materials, so it is "essential" in that sense, but that is not where the money and power is now (that's Mexico). Kind of like how your iPhone is manufactured in China, but the world's-richest-company status goes to Apple, in the US.
Quoting an AI summary (because I'm looking for a quick answer here):
Mexico has become the primary financial beneficiary of cocaine money today. Mexican cartels now control the most lucrative parts of the supply chain - smuggling into the US market and wholesale distribution. They've essentially become the "middlemen" who buy cocaine from Colombian producers at relatively low prices and then sell it in the US at much higher prices, capturing most of the profit margin.
Colombia remains important as a producer of coca and cocaine, but the economics have changed dramatically. Colombian groups now often function more as suppliers to Mexican cartels rather than controlling the entire supply chain themselves. The raw materials and initial processing generate far less revenue than the final distribution stages.
Cocaine is still produced overwhelmingly in South America. Yes, it does have to go through Mexico. But the start of the trade route is Colombia, Bolivia, and Peru.
It's important from a supply chain perspective, but not in the getting-rich-off-of-this sense anymore. The analogy I use is Apple in the USA (Mexico) and Foxconn in China (Colombia).