Government anticipates release of Funcafé resources

The Ministry of Agriculture, Livestock and Supply is anticipating, in an unprecedented way, the release of resources from the Coffee Economy Defense Fund (Funcafé), as a way of supporting the sector in this time of crisis caused by the new Coronavirus pandemic. Normally, release would occur in the second half of July.

“The ministry sought the early release of funds due to the pressing need of producers to meet the cost of labor and preparation of coffee at harvest time, especially in this year that increased the protection requirements for workers due to Covid-19 ”, says Mapa's Commercialization and Supply director, Sílvio Farnese,  

Farnese explains that the measure will also allow access to the commercialization credit line, reducing the need for producers to sell their production at harvest time, when prices usually drop.

The first contract with financial agents for applying the fund's resources in credit to producers, cooperatives, industrialists and exporters should be signed today. Next week, the resource will be available in banks to interested parties. 

31 commercial banks and cooperative banks are authorized to invest R$ 5,7 billion divided into: R$ 1,6 billion for funding, R$ 3,45 billion for commercialization and R$ 650 million for working capital for industries. The resource volume for this crop is 11,7% greater than the previous crop.