CMN approves distribution of Funcafé resources for 2019

The National Monetary Council (CMN) approved in an ordinary meeting this Thursday (25/04) the distribution of resources allocated in the General Budget of the Union (OGU) for the credit lines of the Coffee Economy Defense Fund (Funcafé), to the 2019 financial year, as follows: 

a) Costing operations: up to R$1,3 billion
b) Storage operations: up to R$1,962 billion
c) Financing for Coffee Acquisition (FAC): up to R$ 1,149 billion 
d) Financing for the Recovery of Damaged Coffee Plantations: up to R$10 million
e) Working Capital Financing for Production Cooperatives and the Soluble Coffee and Coffee Roasting Industry: up to R$650 million

Compared to last year, the measure increases the volume of resources for costing operations by 18,2%, storage, by 5,4%, and coffee acquisition by the industry, by 8,1%. Furthermore, in order to rationalize the use of resources, it unifies the limits of working capital lines for production cooperatives, for the instant coffee industry and for the coffee roasting industry, whose combined resources were reduced by 29,7% .

The reduced working capital values ​​were allocated to the other lines. The amount made available last year to finance the recovery of coffee plantations was maintained.