Application of rural credit reaches R$147 billion in three months of the current Safra Plan

The disbursement of rural credit in the first three months of the 2023/2024 Harvest Plan reached R$147 billion, an increase of 11% compared to the same period of the last harvest. Cost financing was used for close to R$90 billion. Concessions for investment lines totaled R$23,7 billion. Commercialization operations reached R$17,5 billion and industrialization operations reached R$15,9 billion.

According to the analysis of the Agricultural Policy Secretariat of the Ministry of Agriculture and Livestock (Mapa), 617.547 contracts were carried out in the three-month period of the agricultural year, 444.077 of which were in Pronaf (National Program for Strengthening Family Farming) and 82.572 in Pronamp (National Support Program for Medium Rural Producers).

The amounts granted to small and medium-sized producers for all purposes (funding, investment, commercialization and industrialization) were, respectively, R$20,8 billion in Pronaf and R$23,2 billion in Pronamp.

The other producers formalized 90.898 contracts, corresponding to R$103,1 billion in financing released by financial institutions.

In agricultural financing for investment, the Agriculture Modernization and Conservation of Natural Resources Program (ModerAgro) contracted R$603 million, meaning an increase of 18% compared to the same period in the previous harvest. And financing for the Pronamp program reached R$1,9 billion, an increase of 34%.

The financing of the Agricultural Cooperative Capitalization Program (Procap-Agro Giro), R$ 323 million, an increase of 113% when compared to the same period in the previous harvest.

In relation to the sources of rural credit resources, the participation of free equalizable resources in contracts stood out in the months of July, August and September, with R$ 5,9 billion, meaning an increase of 279% in relation to the same period of the harvest previous, signaling a greater use of resources from financial institutions made available for equalization within the Safra Plan.

The substitute secretary for Agricultural Policy, Wilson Vaz de Araújo, highlighted the contribution of the uncontrolled source of the Agribusiness Letter of Credit (LCA) to rural credit funding, which accounted for 47% of total corporate agriculture applications in the first quarter of the current harvest, standing at R$59,2 billion, an increase of 69% compared to the same period of the last harvest.

The values ​​presented are provisional and were extracted on the 4th of this month, from the Rural Credit and Proagro Operations System (Sicor/BCB), which records credit operations reported by financial institutions authorized to operate in rural credit.

Depending on the date of consultation in Sicor or in the Rural Credit Thematic Panel of the Brazilian Agricultural Observatory, variations may be observed in the data made available over the thirty days following the last month of the period considered.