The stash of drugs were bound for Australia, and had been shipped from Mexico via Hong Kong, according to authorities who spoke Saturday at a news conference. In Australia, the market value of the drugs could reach about HK$8 billion ($1 billion).
The cargo had raised suspicion as it was unusually large for a coconut water shipment from Mexico.
The meth haul is the second found in shipments from Mexico to Australia in less than two weeks.
Custom officials earlier this month seized about $5.9 million worth of crystal meth concealed in a shipment of electrical transformers that were also bound for Australia from Mexico.