Funcafé still has R$812 million in financial agents for the 2019/2020 harvest

The financial monitoring of the Coffee Economy Defense Fund (Funcafé) shows that there are still R$812 million in resources available to producers, cooperatives, industries and exporters. There are R$256,9 million for funding, R$487,9 million for marketing and Coffee Acquisition and R$67,2 million for working capital and recovery of coffee plantations.

These resources will be available to the 35 financial agents that operate with Funcafé until June 30, 2020.

Funcafé's resources for the current 2019/2020 harvest, which began in July 2019, totaled R$4,9 billion in the four main financing lines. Until March 31, 83,5% of the programmed resources were sent to financial agents, with emphasis on funding, with 78%, commercialization and Coffee Acquisition, with 81% and Working Capital 94%.

“Due to the current Coronavirus pandemic, which is expected to increase the need for credit for funding and marketing, the Mapa Agricultural Policy Secretariat is sparing no efforts to bring forward to May the release of resources for the next 2020/2021 harvest, scheduled in R$5,7 billion”, says the director of Mapa’s Marketing and Supply Department, Silvio Farnese.