Disbursement of rural credit totaled R$25,8 billion in July

The volume of rural credit disbursed in the first month of the current Safra Plan totaled R$25,8 billion, a decrease of 1% compared to the same month in the previous season. 

The application of funding resources was R$22,2 billion, an increase of 38%. Commercialization showed a decrease of 43%, with R$ 982 million and industrialization had a drop of 47%, with R$ 1 billion. 

Investment financing lines also fell by 75%, reaching R$1,6 billion. 

The numbers are part of the Rural Credit Performance Balance, released this Friday (5) by the Agricultural Policy Secretariat (SPA) of the Ministry of Agriculture, Livestock and Supply (Mapa).    

According to the SPA, the behavior of investment credit contracts in the first month of the 2022/23 agricultural year was atypical, due to the release of these operations, carried out with equalizable resources, only occurring from 19/07, when was published on  ME Ordinance No. 6.454, which authorized the payment of interest rate equalization. 

Therefore, there was a delay in financing contracts, especially investments, with operations taking place that have not yet been disclosed by the Central Bank (BCB).

SPA considers that investment contracts tend to intensify from this month of August onwards.

The importance of the contribution of the Agribusiness Letter of Credit (LCA) to the rural credit funding stands out for being the main source of uncontrolled resources, with contracts made with resources from this source increasing 289% in July, standing at R$13,2 billion.

The 2022/2023 Harvest Plan has R$340,9 billion to support national agricultural production until June of next year. Of this total, R$246,3 billion is allocated to financing and sales. Another R$94,6 billion is for investments.

Resources with controlled interest total R$195,7 billion and with free interest R$145,2 billion. The amount of equalized resources totals R$115,8 billion in the current harvest.