Reduced interest rates on Funcafé financing

From July 1st this year, interest rates on financing from the Coffee Economy Defense Fund (Funcafé) will be reduced. 

The values ​​of lines of credit intended for funding, marketing and financing for Coffee Acquisition (FAC) for cooperatives goes from 7% to 6% per year. Already the working capital and FAC financing for industry and exporters declines from current 9,5% to 7,5%.

The change of interest rate values ​​are part of the measures of the 2020/2021 Harvest Plan, announced by President Jair Bolsonaro and minister Tereza Cristina, on June 17, in Brasilia. The standard is published in Resolution No. 4.827 of the Central Bank.

According to Sílvio Farnese, director of Marketing and Supply, at the Secretariat of Agricultural Policy of the Ministry of Agriculture, Livestock and Supply, the reduction in interest rates will allow an improvement in the financial profitability of the sector, important at this time of harvesting and marketing.

"This In this way, the coffee grower will have easy access to credit for both expenses at this stage, to facilitate the loading of production throughout the year", explains Farnese.