Peru coca prices drop following COVID-19 restrictions

Coca prices in Peru have fallen by nearly 70% since the beginning of the COVID-19 pandemic as drug traffickers struggle to move cocaine across borders. In Peru, 90% of the coca crop goes to the illicit trade, although there is a tightly regulated legal coca market. Farmers selling to the legal market have approached the Peruvian government for financial assistance; asking them to buy excess product from coca farmers. Peru’s anti-drugs agency has said that it may provide more development aid to hard-hit areas.

Source: https://www.reuters.com/article/us-health-coronavirus-latam-narcotics-sp-idUSKCN2242ZI