Peru El Niño: North Coast Floods, South Drought; Ag GDP Forecast Slashed

Peru's MEF has cut its 2026 agricultural growth projection from +2.3% to -1.4% due to a double El Niño impact: extreme rainfall on the north coast and a water deficit in the southern agro region. MIDAGRI estimates quinua production could fall 12% in 2027. The forecast revision signals a significant economic hit to a key sector, with regional disparities in climate impacts.