Funcafé resources will be available to producers starting next week

The first contracts have already been signed by Mapa and financial agents

02.09.2021 | 20:59 (UTC -3)
Mapa

This week, Mapa signed the first 14 contracts with financial agents that will apply Funcafé (Coffee Economy Defense Fund) resources. The documents were signed by Minister Tereza Cristina. In this way, starting next week, producers, cooperatives. Industries and exporters will be able to look for banks and credit unions capable of operating the resources. 

In total, 34 banks and credit unions will operate with Funcafé, with the participation of the main financial institutions that work with rural credit. The new partners are Caixa Econômica Federal, Banco de Brasília and Cresol. 

Funcafé Budget

This season's budget is distributed as follows: R$1,28 billion in costing, R$1,77 billion in marketing, R$1,08 billion in coffee acquisition and R$504,4 million in working capital for industries and cooperatives. The amount results in R$4,64 billion.

On August 17, the National Monetary Council, on the recommendation of the Ministry of Agriculture, reserved R$1,32 billion from the Fund to support coffee growers who suffered losses due to frost. The measure was approved by the Coffee Policy Deliberative Council (CDPC) at a meeting on August 10. 

“We are awaiting the results of the survey of actual losses in the coffee plantation, which is being carried out by Conab [Companhia Nacional de Abastecimento], which should happen by the end of the month. We will address the matter in a meeting with CDPC representatives", highlights the director of the Mapa Marketing and Supply Department, Silvio Farnese.

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