Funcafé applies 81,5% of the resources released to financial agents

From July 2020 to June 2021, R$4,4 billion were released from the Coffee Economy Defense Fund (Funcafé), which corresponds to a commitment of 81,5% of the resources to coffee producers, industrialists and exporters . During this harvest, R$5,42 billion were contracted with the financial agents that operated with the fund. 

Of the total resources released, R$3,74 were contracted with borrowers, meaning an investment rate of 85% in relation to that assumed by financial agents.

31 banks and credit cooperatives operated with Funcafé, with around 26.700 beneficiaries accessing credit, in direct operations or through production cooperatives.

The credit lines intended for financing Commercialization and Working Capital were those that had the best performance, reaching, respectively, 93,2% and 92,3% of the volume released to financial agents. Followed by FAC – Financing for Coffee Acquisition, with 85,6% and Agricultural Costing, which applied the corresponding 70% of the volume made available.

The Coffee Plant Recovery program expanded its participation in this harvest to support producers who suffered crop losses due to the drought that hit some producing regions.

“This financial movement was one of the best in recent harvests, despite the difficulties last year due to the limitations imposed in combating the pandemic. This shows that the coffee sector knew how to adapt to this crisis without losing its dynamics, recalled the Director of Marketing and Supply of the Mapa Agricultural Policy Secretariat”, Silvio Farnese.         

2021/2022 Harvest

This harvest, Funcafé has R$5,9 billion for the sector, which corresponds to an increase of 8,9% compared to the last harvest. The contracting procedures with the 33 financial agents that will operate with the Fund are in the final phase. Making their debut this year are Caixa Econômica Federal, Banco de Brasília and Cresol, which will sign a contract with Funcafé.

Also for the first time, the interest rate will be the same for all lines of credit, set at 7%. Last harvest, FAC and Working Capital contracts for industry operated at 6,75%, or one and a half percentage points above the others, which were 5,25%.