Producers from 16 states will be able to renegotiate rural credit debts

CMN authorizes refinancing due to climate events and price drops

01.04.2024 | 15:26 (UTC -3)
Agency Brazil
Photo: José Cruz
Photo: José Cruz

Producers from 16 states affected by climate events or the drop in agricultural prices will be able to renegotiate rural credit debts for investments, authorized the National Monetary Council (CMN). Orders must be placed by May 31st.

In a note, the Ministry of Finance informed that the measure was necessary because, in the 2023/2024 harvest, the climate behavior in the main producing regions negatively affected some crops, mainly soybeans and corn, reducing productivity in specific locations in the South, Center -West and the state of São Paulo.

Furthermore, the Ministry of Agriculture reported that rural producers have faced difficulties with the drop in the price of soybeans, corn, meat and milk in some regions and with expensive inputs.

Financial institutions may renegotiate, at their discretion, up to 100% of the principal value of installments due between January 2nd and December 30th of this year. The credit lines must have been contracted by December 30th of last year, and the borrower must be up to date with the installments by this date.


The renegotiation covers portions of rural investment credit lines contracted with controlled resources (equalized resources, mandatory resources and resources from the Constitutional Funds of the Northeast, North and Central-West). Financing must be supported by the National Program for Strengthening Family Agriculture (Pronaf), the National Support Program for Medium Rural Producers (Pronamp) and other rural investment programs of the National Bank for Economic and Social Development (BNDES), as well as the rural investment lines from constitutional funds.

The productive activities and benefiting states are as follows:

• soy, corn and beef cattle: Goiás and Mato Grosso;

• meat and milk cattle farming: Minas Gerais;

• soy, corn and dairy cattle: São Paulo, Paraná, Rio Grande do Sul and Santa Catarina;

• beef cattle farming: Rondônia, Roraima, Pará, Acre, Amapá, Amazonas and Tocantins;

• soy, corn and dairy and meat cattle farming: Mato Grosso do Sul;

• dairy cattle farming: Espírito Santo and Rio de Janeiro.

The renegotiated installments must be corrected by the contractual financial charges, including for default, when applicable. However, installments due between March 28 and April 15, 2024 can be adjusted according to the contractual charges for the normal situation, waiving the extra charges due to default. The borrower must pay at least the financial charges scheduled for this year, on the respective installment due dates.

In credit lines with the last installment due in 2024, 2025 or 2026, up to 100% of the principal amount of the 2024 installments can be rescheduled for repayment within one year after the due date of the last installment scheduled in the current repayment schedule.

In operations with the last installment expected after 2026, up to 100% of the principal of the 2024 installments must be added to the outstanding balance and redistributed in the installments due from 2025 onwards.


The renegotiation covers investment operations whose installments due in 2024 could reach R$20,8 billion in equalized resources, R$6,3 billion in resources from constitutional funds and R$1,1 billion in mandatory resources.

If all installments of operations eligible for renegotiation are extended, the cost will be R$3,2 billion, distributed between 2024 and 2030, half for family farming and half for corporate farming. The effective cost will be deducted from the amounts to be allocated to equalize rates for the 2024/2025 Harvest Plans.


Regarding debts from Pronaf credit operations with resources from constitutional funds, the CMN authorized borrowers affected by climate change to request renegotiation up to 120 days after the installment was due. Until now, there was no rule on the conditions for renegotiation after this period.

For installments overdue for more than 120 days, the CMN defined that charges for the default situation must be applied. However, these charges will be linked to constitutional funds, which charge lower interest than other rural credit lines.

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