Italian police certainly had the catch of the day (Image: DaPress/SplashNews.com)

Two tons of cocaine have been found in the middle of the ocean near Italy.

With a street value of around £354 million, the drugs were wrapped in protective plastic sheeting, tied with nets and left off the coast of eastern Sicily.

There was just enough plastic to keep them from getting wet without weighing them down and sinking.

Investigators speculated that a freighter had left the cargo at sea to be picked up by another ship and taken to shore.

As a precaution, police planes flew over the area if packets were to go off the network.

In total, the agents seized more than 1,600 packages of cocaine from 70 floating bundles.

It comes after containers worth 261 million pounds of cocaine were found in the middle of the Pacific Ocean in February.

Agents stole more than 1,600 packets of cocaine in 70 bouncing bundles (Photo: AP)

Just over three tons of coke – which Australia could have “held” for a year – was reportedly dumped into the water by an international smuggling ring.

The mass confiscation would have dealt a significant financial blow to all involved, from South American producers to distributors.

In March, a couple stumbled upon Class A drugs worth more than £50 million on the beach.

The pair were traveling when they spotted suspicious construction bags in Normandy, France.

They immediately called the police, who soon discovered that the packages were filled with 800 kilograms (0.88 tons) of cocaine.

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