# Peru suffers the consequences of coronavirus | Peru Support Group

> Peru's economy is feeling the effects of China's slowdown through lower copper prices, with copper about 10% below year-earlier levels in early February. The sol weakened against the dollar over February, moving from 3.31 to 3.46 per US dollar. Goldman Sachs estimates a 10% copper price drop would cut Peru's growth by about one percentage point.

- Date: 2020-02-29 · published 2020-02-29T12:00:00.000Z
- Category: macro · region Peru · magnitude low
- Page: https://feedsoft.ai/events/54874-peru-suffers-the-consequences-of-coronavirus-peru-support-group
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weaker Chinese demand for metals and agricultural commodities reduces export receipts across Latin America, which can pressure local currencies and feed-input import costs. For feed buyers, softer Chinese demand for Argentine and Brazilian agricultural exports is a bearish signal for soy complex prices.

## Read by commodity

- SBM: bearish ▼
- USDPEN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2020-02-25 | [Coronavirus spread pressures grains, oilseeds - Brownfield Ag News](https://feedsoft.ai/events/12543-coronavirus-spread-pressures-grains-oilseeds-brownfield-ag-news.md) | +5.6% | +16.6% |
| SBM | 2020-01-31 | [Coronavirus and current account deficit hit the Brazilian Real against the dollar — MercoPress](https://feedsoft.ai/events/55285-coronavirus-and-current-account-deficit-hit-the-brazilian-real-against-the.md) | -1.1% | +2.4% |
| SBM | 2022-12-16 | [Global recession worries chip away at corn, soybeans – The Seam](https://feedsoft.ai/events/5521-global-recession-worries-chip-away-at-corn-soybeans-the-seam.md) | -0.6% | +11.9% |
| SBM | 2024-01-18 | [Why the Argentine peso is slipping through Milei’s fingers \| Buenos Aires Times](https://feedsoft.ai/events/32421-why-the-argentine-peso-is-slipping-through-milei-s-fingers-buenos-aires-times.md) | +1.1% | -3.7% |
| SBM | 2018-05-14 | [IMF says supports Argentina floating exchange rate as peso tumbles](https://feedsoft.ai/events/65309-imf-says-supports-argentina-floating-exchange-rate-as-peso-tumbles.md) | -1.7% | -8.2% |

## Sources

- perusupportgroup.org.uk: https://perusupportgroup.org.uk/2020/02/peru-suffers-the-consequences-of-coronavirus/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.