Map defines direction of Funcafé resources in the 2022/23 harvest

The Ministry of Agriculture, Livestock and Supply (Mapa) defined this Tuesday (07/06) the direction of budgetary resources to the Coffee Economy Defense Fund (Funcafé). The total resources to meet the financing lines destined for the coffee sector in the 2022/2023 season, of R$6.058.500.000, was approved by the National Monetary Council in April this year. 

According to Ordinance No. 442, up to R$1,57 billion will be allocated for funding credit, up to R$2,17 billion for marketing credit and up to R$1,38 billion for the Financing for Coffee Acquisition (FAC) line. Credit for working capital for instant coffee, coffee roasting and production cooperative industries was set at R$775 million. Credit for the recovery of damaged coffee plantations was R$160 million. 

The interest rates on Funcafé financing will be established together with the measures of the 2022/23 Harvest Plan.

If there is a balance of resources contracted and not applied to any credit lines, a new allocation may be made in December 2022, after consultation with Funcafé's financial agents about the possibility of full use of the amounts initially contracted.

Financial institutions that are part of the National Rural Credit System interested in operationalizing Funcafé resources in the 2022 financial year will have 10 days to present a proposal for demand for resources and the documentation required for qualification.