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The prosecutor overseeing the case of two UK women arrested last month trying to fly to Spain with 24lb of cocaine says each faces at least six years and eight months in prison with no eligibility for parole if they plead guilty.
Prosecutor Juan Bautista Mendoza said today that a further sentence reduction is possible if the women testify against co-conspirators.
Otherwise, they face between eight and 15 years.
Twenty-year-old Michaella McCollum's lawyer Peter Madden said he could not yet say whether she would plead guilty or go to trial.
After her arrest he said the two women were coerced by a gang of up to 15 armed men.
A young woman will plead guilty to drug smuggling charges in Peru, even though she maintains she was forced into carrying the narcotics against her will, her father has said to Daybreak.
William Reid, whose 20-year-old daughter Melissa is in the notorious Virgen de Fatima prison in Peru's capital Lima, said her guilty plea was part of "plea bargaining negotiations".
Sitting next to Melissa's mother Debra, he explained: "You can spend a lengthy pre-trial period in detention otherwise. Not all of the people who know most about this case are going to be questioned."
A British women arrested on suspicion of trying to smuggle cocaine out of Peru said although she was "scared" about striking a plea deal, she did not want to be in prison until she was 35.
Melissa Reid, who is in the notorious Virgen de Fatima prison in Peru's capital Lima, told the Mail on Sunday: "I am really scared about what I am about to do but I am also relieved that there could be a light at the end of the tunnel.
"After a lot of thought and advice from my lawyer I am going to go in front of the judge and admit I was in possession of the drugs and that I went to Peru to pick up drugs to take to Spain - I am willing to plead guilty to that.
"I did it under duress, I still maintain that, and I am glad I do not have to say I accepted money to do it."
A British women arrested on suspicion of trying to smuggle cocaine worth £1.5 million out of Peru is prepared to plead guilty in exchange for a short sentence.
Melissa Reid, 20, hopes a plea deal will see her get home to Glasgow as soon as possible, she told the Mail on Sunday.
The newspaper said her deal could get her sentence cut from up to 25 years to just six years and eight months.
Her family believes she could be released in three years, according to the newspaper.