Colombian national police confiscated 8 metric tons of cocaine along the border with Panama, the government said on Sunday (May 15) , in what may be one of the largest seizures in the country in recent years.

The haul, with an estimated value of $240 million, was discovered in an underground hideaway on a banana plantation in the municipality of Turbo in Antioquia department, officials said.

"The biggest seizure of drugs in history. A hit against criminals," Colombian President Juan Manuel Santos said on Twitter.

Three people were arrested in the operation.

Defence Minister Luis Carlos Villegas said the drugs belonged to the Clan Usuga crime gang. The United States has offered a $5 million reward for the capture of the gang's leader.

"There are nine tons of which by the New York street value is worth U$ 250 million, so this is a blow to the finances of the Usuga family and narcotraffickers in general in the Uraba region of Colombia," the minister confirmed in a statement.

Colombia produces some 442 tonnes of cocaine annually, according to the United Nations. Colombian authorities seized 252 tonnes of the narcotic in 2015.