Coca-Cola yes, Coca Sek no?

It was all over the news today. Colombia is taking the war on drugs to the supermarket, prohibiting the sale of products made from the coca plant, including the successful energy drink from the Nasa Indian tribe, Coca Sek.

Natural coca products have been used for ages in Columbia for different remedies and to stave off hunger. The president has been promoting the natural use of coca products while magnifying the country's war on drugs with the help of U.S. aid. Lately, however, following a letter from the International Narcotics Control Board, Columbia changed its lax attitude towards the natural products as well, taking them off the shelves.

Many, of course, blame Coca-Cola Co. (NYSE: KO), saying the company was really behind this campaign as the Coca Sek started gaining popularity. Moreover, they say, why should Coca-Cola be allowed to use the extract in its drink and they shouldn't?

Coca-Cola, of course, will not reveal its secret formula and whether coke is indeed made of the coca leaves, but it is largely assumed the syrup is made from "spent" coca leaves and kola nuts. The issue was raised just two months ago as Bolivian coca growers (the plant is sacred in Bolivia) demanded copyrights on the coca name and for Coca-Cola to drop "coca" from its name.

I do find the change of heart of the Colombian president to be odd, although it's not obvious what caused it. I'm sure the whole matter, other than PR, didn't affect Coca-Cola one way or the other. Coca Sek was too small for it to worry about. And yet, is it possible Coca-Cola saw a potential risk and decided to nip the competition in the bud, before it became a threatening force?