Funcafé interest rate for the 2022/2023 harvest will be 11% per year

O National Monetary Council (CMN) defined the interest rate of the Coffee Economy Defense Fund (Funcafé) for the 2022/2023 harvest at 11%, effective from July 1st. Despite having increased compared to the last harvest, it was below the Selic rate, currently at 13,25%. The Fund's remuneration was established at 8%, maintaining the financial agent's remuneration at up to 3%.

This rate was defined as one of the incentives to support national coffee farming, with the aim of facilitating the contracting of credit for producers, cooperatives, industries and exporters, necessary for the growth and strengthening of the sector.

With the availability of R$6 billion for this harvest, covering the credit lines for funding, marketing, working capital, coffee acquisition and coffee plantation recovery, Funcafé is finalizing the procedures for signing contracts with the 37 financial agents that made proposals to the Fund. 

The expectation of the Agricultural Policy Secretariat of the Ministry of Agriculture, Livestock and Supply (Mapa) is that in July, financial agents will already have access to the contracted resources. 

The Fund's resources are intended to provide lines of credit to finance crop cultural treatments, storage, marketing and acquisition of the product, working capital for industries and production cooperatives, and also for the recovery of coffee plantations damaged by hailstorms , frost, windstorms or other weather phenomena.