In 10 months, rural credit disbursement reaches R$347,2 billion

The amount of rural credit disbursement from the 2023/24 Harvest Plan reached R$347,2 billion in 10 months, from July/2023 to April/2024. An increase of 15% compared to the same period last harvest.

"Never in the history of Brazil has there been a harvest plan like the one we implemented in 2023/2024, and how we are preparing for 2024/2025. Agribusiness has never been so well served by the Federal Government”, said President Luiz Inácio Lula da Silva, he said, in an interview with radio stations during the program Bom Dia, Presidente, produced by Empresa Brasil de Comunicação (EBC).

Cost financing was used in the amount of R$191 billion. Investment lines contracted totaled R$83 billion. Commercialization operations reached R$45 billion and industrialization operations reached R$27 billion.

1.832.791 contracts were made in the nine-month period of the agricultural year, 1.375.988 of which were in Pronaf (National Program for Strengthening Family Agriculture) and 164.271 in Pronamp (National Support Program for Medium Rural Producers).

The other producers formalized 292.532 contracts, corresponding to R$253,5 billion in financing released by financial institutions.

The total of R$347,2 billion corresponds to 80% of the amount that was programmed for the current harvest for all producers (small, medium and large), which is R$435,8 billion.

In corporate agriculture (medium and large rural producers), the application of rural credit reached R$297,5 billion from July to April, corresponding to an increase of 16% compared to the same period of the previous year. This value represents 82% of the total programmed by the government, of R$364,2 billion.

The amounts granted to small and medium-sized producers for all purposes (funding, investment, commercialization and industrialization) were, respectively, R$50 billion in Pronaf and R$44 billion in Pronamp.

In agricultural financing for investment, the Program for Modernizing the Fleet of Agricultural Tractors and Associated Implements and Harvesters (Moderfrota) had contracts in the order of R$ 7 billion, meaning an increase of 53% compared to the same period in the previous harvest. And financing for Pronamp reached R$4,3 billion, an increase of 107%.

In relation to the sources of rural credit resources, the share of free equalizable resources reached R$ 11,4 billion, meaning an increase of 193% in relation to the same period of the previous harvest.

It is also important to highlight the contribution of uncontrolled sources to rural credit funding: the Agribusiness Credit Letter (LCA Livre), which responded to 49% of total corporate agriculture applications, in the 10 months of the current harvest, standing at R$ 147 billion, it saw an increase of 88% in relation to the same period of the last harvest, when this source represented 31% (R$ 77,9 billion) of total applications in corporate agriculture.

The values ​​presented are provisional and were extracted on the 06th of this month, from the Rural Credit and Proagro Operations System (Sicor/BCB), which records credit operations reported by financial institutions authorized to operate in rural credit.

Depending on the date of consultation at Sicor, variations in the data made available may be observed over the thirty days following the last month of the period considered.