Minas Gerais will have R$1 billion to finance agricultural production in advance

As of this Tuesday (02/02), rural producers in Minas Gerais will have R$1 billion to fund agricultural production in advance. The announcement mainly benefits medium-sized producers and was made by Banco do Brasil, in Belo Horizonte, during a meeting with representatives from the State Secretariat of Agriculture, Emater-MG and the Federation of Agriculture and Livestock of Minas Gerais.

The resources are for the 2016/2017 harvest and originate from funding from Rural Savings and demand deposits. The funding credit is mainly aimed at the acquisition of seeds, fertilizers and pesticides with the aim of producing positive impacts on the production chain for sugarcane, corn, soybeans, oranges, coffee, rice and cotton crops.

According to the State Superintendent of Banco do Brasil in Minas Gerais, Reinaldo Kazufumi Yokoyama, the program is available to medium producers through the National Support Program for Medium Rural Producers (Pronamp) with rates of 7,75% per year, up to the ceiling of R$710 thousand. Other rural producers access credit with charges of 8,75% per year, with a ceiling of up to R$1,2 million per beneficiary. The announcement does not include family farmers, as they already have resources from Pronaf (National Program for Strengthening Family Agriculture).

“It is a valuable initiative and we need to make an effort to put credit on the field. Anticipating funding allows producers to better plan the next harvest”, highlights technical director of Emater-MG, João d'Angelis.

Rural producers count on Emater-MG assistance, which offers all support, such as preparing the technical project necessary to release resources. The pre-funding credit is released up to 60 days before the start of the planting period.