Funcafé will make more than R$6,886 billion available for the 2024-25 harvest

The proposal was approved by the Technical Committee of the Coffee Policy Deliberative Council during a meeting at the Ministry of Agriculture

05.04.2024 | 16:32 (UTC -3)
Alexandre Costa
Photo: Disclosure
Photo: Disclosure

With an increase of more than R$511 million in relation to the 2023/2024 harvest, the Coffee Economy Defense Fund (Funcafé) will make R$6.886.605.753,00 available for the 2024/2025 coffee harvest. The proposal was approved by the Technical Committee of the Coffee Policy Deliberative Council (CTCDPC) this week, during a meeting at the Ministry of Agriculture (Mapa), chaired by the Secretary of Agricultural Policy, Neri Geller.

The next step will be approval by the CDPC. The lines served and the values ​​were defined as follows:

  • Marketing credit - R $ 2.490.565.379,00
  • Costing credit - R $ 1.753.426.947,00
  • Financing for Coffee Acquisition (FAC) - R $ 1.615.357.735,00
  • Credit for working capital for soluble coffee and coffee roasting industries and for production cooperatives - R $ 1.015.255.692,00
  • Credit for the recovery of damaged coffee plantations - R $ 30.000.000,00

In total, Funcafé will make available to financial agents for financing on the aforementioned lines the amount of R$ 6.886.605.753,00 (billions of reais).

Next Steps

After approval by the CDPC, the proposal will be sent to the National Monetary Council (CMN). The next step will be the release of documents for financial agents to indicate to the Ministry of Agriculture and Livestock their intentions to seek resources to offer to producers, with the interest rate agreed at 8% for the fund's remuneration and up to 3% for the bank spread. . After the launch of the Safra Plan, the resources will be available for interested parties to access.

Silas Brasileiro, president of the National Coffee Council (CNC), highlighted the government's commitment to ensuring agile management of Funcafé resources, aiming to ensure that producers have effective access to the credit made available by the fund.

“We would like to thank Minister Carlos Fávaro for providing all of his competent team to help us achieve the largest Funcafé of all time. We highlight the dedication of the Secretary of Agricultural Policy, Neri Geller, the Director of the Marketing Department, José Maria dos Anjos, the General Coffee Coordinator, Janaína Macedo Freitas, and their dedicated teams”, he pointed out.

“Again we believe that the process will occur quickly so that producers and entities have access to credit as soon as the Harvest Plan is announced by the Government”, he highlighted.

LS Tractor February