Contracts for the 2021/2022 Harvest Plan reach R$131,4 billion in five months

In the first five months of the harvest 2021/2022 (July to November), rural credit disbursements were R$ 131,4 billion, an increase of 24% compared to the same period of the harvest previous, as balance of rural credit, released Wednesday (08/12), by the Secretariat of Agricultural Policy from the Ministry of Agriculture, Livestock and Supply (Mapa). 

Cost releases reached R$ 74,6 billion, an increase of 25%. Investments presented performance of R$35,2 billion, an increase of 13%.

Marketing contracts represented R$13,5 billion (+48%) and industrialization represented R$8,1 billion (+23%). The most demanded commercialization modalities are: Storage, Financing for Producer Price Guarantee (FGPP) and Special Financing for Storage of Agricultural Products (FEE), which in the current harvest represented 78% of the value contracted for commercialization. These instruments were used to support, mainly corn, soybean and coffee producers.

In the performance of rural credit by region, the North saw growth of 26% in the number of contracts and 45% in value, with emphasis on the states of Tocantins, Pará and Acre.

SPA highlights that, despite variations positive in all purposes, the growth rate of rural credit contracts had a slowdown compared to the data released in the last four balance sheets, especially in the investment operations.

Bacen regulations

Since August 30th, the calculation of disbursement of rural credit was changed based on the Bank's rule Central (Bacen), which suspended the accounting of contracted operations that, after two business days, no resources have been released. Nonetheless, if within 365 days of contracting there is release of resources, the operation may be re-included in the Operations System of the Rural and Proagro Credit (Sicor).

Previously, deadlines for deletion of these operations varied between 40 and 90 days for funding, 90 days for commercialization and industrialization and 180 days for investments.

The reduction in exclusion periods, as item 23 of the General Conditions of Document 1 of the Credit Manual Rural (MCR), involved reviewing information on rural credit, available on Sicor.

The director of the Policy Department Financing for the Agricultural Sector, Wilson Vaz de Araújo, highlights the difference in the value of financing in the current harvest, computed in October and November, in investment programs, especially Prodecoop (-98%), PCA (-33%) and Moderfrota (-31%). The reduction is due of Bacen regulations and also due to the occurrence of delays in the delivery of machines and equipment, which has consequently resulted in delays in releasing resources.

The director informed that data on rural credit performance in the current harvest, previously released, will be reviewed.

funding sources

When analyzing hiring by source of resources, the Mandatory Resources (MCR 6-2), from Rural Savings Controlled, Poupança Rural Livre and LCA continue to lead the ranking of releases, with 79% of the value of rural credit operations. On the other hand, there was a decline in sources BNDES (-27%) and FCO (-36%), which can be justified by the occurrence of said suspension of contracted and unreleased operations. In the balance until October/2021, these sources had presented positive variations of 1% and 92%, respectively.

In the case of BNDES/Equalizable, the reduction is also justified by the lower availability of resources, the fact that other institutions have begun to operate directly with resources equalized in rural credit.

The remaining balance at the end of November of 2021 was 52% for investments and 46% for funding, commercialization and industrialization. The programs with the biggest resource commitments were Procap-Agro (66%); other programs with non-equalized sources (55%); Pronaf (52%) and Moderfrota (52%).