Disbursement of rural credit reaches R$373,4 billion in eleven months

One month into the new Safra Plan, the amount of rural credit disbursement from the 2023/24 Safra Plan reached R$373,4 billion, in the period from July/2023 to May/2024. An increase of 13% compared to the same period last harvest.

Cost financing was used in the amount of R$205,4 billion. Investment lines contracted totaled R$90,6 billion. Commercialization operations reached R$48,5 billion and industrialization operations reached R$28,9 billion.

2.025.768 contracts were made in the eleven-month period of the agricultural year, 1.531.980 of which were in Pronaf (National Program for Strengthening Family Agriculture) and 175.511 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$54,5 billion in Pronaf and R$46,8 billion in Pronamp.

The other producers formalized 318.277 contracts, corresponding to R$272 billion in financing released by financial institutions.

The total of R$373,4 billion corresponds to 86% 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 rural producers), the application of rural credit reached R$318,9 billion from July to May, corresponding to an increase of 14% compared to the same period of the previous year. This value represents 88% of the total programmed by the government, of R$364,2 billion.

Investment

In agricultural financing for investment, Pronamp reached R$4,4 billion, an increase of 105%. And financing for the Agricultural Tractors and Associated Implements and Harvesters Fleet Modernization Program (Moderfrota) was contracted in the order of R$ 7,2 billion, meaning an increase of 56% compared to the same period in the previous harvest.

In relation to the sources of rural credit resources, the share of free equalizable resources reached R$ 12 billion, meaning an increase of 192% in relation to the same period of the previous harvest.

It is also important to highlight the contribution of uncontrolled sources to rural credit funding: the Agribusiness Credit Letter (LCA Livre), which responded to 48% of total corporate agriculture applications, in the eleven months of the current harvest, standing at R$ 152 billion, it saw an increase of 74% in relation to the same period of the last harvest, when this source represented 31% (R$ 87 billion) of total applications in corporate agriculture.

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 at Sicor, variations in the data made available may be observed over the thirty days following the last month of the period considered.