THE Australian Federal Police's claim to have seized more than $1 billion worth of ice in push-up bras and craft supplies imported from Hong Kong is under scrutiny, with officers admitting they used an "upper range" figure to make the valuation.

Police said four people were charged with importing 720 litres of liquid methamphetamine, in what officers have called the largest seizure of its kind in Australian history.

$1 billion worth of ‘ice’ has been seized in Hurstville and Campsie.  Photo: Seven News Sydney / Twitter
$1 billion worth of ‘ice’ has been seized in Hurstville and Campsie. Photo: Seven News Sydney / Twitter

But the AFP's claim that the drugs were worth more than $1 billion is under scrutiny, with analysis of ice seizures publicised as recently as last month showing police are valuing Monday's haul at nearly four times the price they have used following earlier raids.

The AFP said it came up with the figure using a new "upper range" method of calculating drug prices.

Police said the 720 litres of methylamphetamine uncovered could have been used to make 504 kilos of ice with a street value of $1.26 billion - working out at $2.5 million per kilo. However, last month the AFP valued 159 kilograms of ice at $106.5 million, or approximately $666,000 per kilo.

-ABC News


UPDATE: Man who died behind Gatton shops had medical history

Premium Content UPDATE: Man who died behind Gatton shops had medical history

Police have released some details about the man who died in Gatton.

REVEALED: How state bugdet will impact Lockyer, Somerset

Premium Content REVEALED: How state bugdet will impact Lockyer, Somerset

Find out which Lockyer schools, parks and towns will benefit in this year’s state...

AMAZING DEAL: Read it all for $3 a week for first 12 weeks

Premium Content AMAZING DEAL: Read it all for $3 a week for first 12 weeks

You get access to local and regional news and the Courier Mail