Customs has seized about 50kg of cocaine found hidden in a ship that docked in Tauranga this morning.
Customs' Maritime Group found the drugs during an on board inspection of a freighter that travelled from Panama.
The freighter was destined for Sydney, a statement from Customs said.
"This seizure was supported by police and further investigations are underway," the statement read.
"Customs cannot make further comment while investigations continue."
The National Drug Intelligence Bureau estimates the street value of the drugs as up to $25 million.
In February, New Zealand authorities intercepted 3.2 tonnes of cocaine that was found floating adrift in the Pacific Ocean.
Authorities said the drugs have a street value of "half a billion dollars".
It’s the largest drug bust in New Zealand history. (Source: 1News)
In total, 81 bales of cocaine made the journey back to New Zealand aboard the Royal New Zealand Navy vessel HMNZS Manawanui.
Some of the bales had stickers to identify them, including a Batman logo and a four leaf clover.
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