Application of rural credit reaches R$217 billion in five months of the current Safra Plan

The disbursement of rural credit for family and business agriculture in the first five months of the 2023/2024 Harvest Plan reached R$217 billion, indicating an increase of 15% compared to the same period of the last harvest. Cost financing was used in the amount of R$126 billion. Concessions for investment lines totaled R$44 billion. Commercialization operations reached R$26 billion and industrialization operations reached R$20 billion. 

According to the analysis of the Agricultural Policy Secretariat of the Ministry of Agriculture and Livestock (Mapa), 1.011.242 contracts were made in the five-month period of the agricultural year, 737.543 of which were in Pronaf (National Program for Strengthening Family Farming) and 115.267 in Pronamp (National Support Program for Medium Rural Producers). 

The other producers formalized 158.432 contracts, corresponding to R$154,4 billion in financing released by financial institutions. 

The total of R$217 billion corresponds to 50% of the amount that was programmed for the current harvest for all producers (small, medium and large), which is R$435,8 billion.  

In corporate agriculture (medium and large farmers), the application of rural credit reached R$186,5 billion from July to November, corresponding to an increase of 19% compared to the same period of the previous year. This value represents 51% of the total programmed by the government, of R$364,2 billion. 

The amounts granted to small and medium-sized producers for all purposes (funding, investment, commercialization and industrialization) were, respectively, almost R$31 billion in Pronaf and R$32,1 billion in Pronamp. 

In agricultural financing for investment, the Agriculture Modernization and Conservation of Natural Resources Program (ModerAgro) had contracts in the order of R$ 1,3 billion, meaning an increase of 25% compared to the same period in the previous harvest. And financing for the Pronamp program reached R$3 billion, an increase of 70%. 

In relation to the sources of rural credit resources, the share of free equalizable resources reached R$ 11 billion, meaning an increase of 450% in relation to the same period of the previous harvest, signaling a greater use of this source, made available for equalization within of the Safra Plan. 

It is also worth highlighting the contribution of the uncontrolled source of the Agribusiness Credit Letter (LCA) to the funding of rural credit, which accounted for 46% of total corporate agriculture applications in the first five months of the current harvest, standing at R$85,5 billion, an increase of 98% compared to the same period last harvest, when this source represented 27% (R$43,1 billion). 

The values ​​presented are provisional and were extracted on the 05th 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.