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With BRL 27 billion, rural credit in Brazil reaches record in the first month of the 2021/2022 harvest

Posted by Rafael Moro

Image: Pixabay

In the performance of the first month of the 2021/22 harvest, rural credit contracts reached BRL 27 billion, an increase of 16% compared to the previous harvest. With the contracted volume, in July, investments totaled BRL 6.8 billion, presenting the greatest growth (+38%). Costing operations totaled BRL 16.5 billion, corresponding to an increase of 12% compared to the same period last year.

According to the Agricultural Financing Balance Sheet for the 2021/2022 Crop, producers included in the National Program for Strengthening Family Agriculture (Pronaf) had the best relative performance, with a 56% increase and BRL 6.6 billion contracted, of which BRL 4.2 billion in funding and BRL 1.8 billion in investment, the latter with growth of 61%. Of the amount of funds authorized for Pronaf, there are still 87% of investments and 78% of other purposes to be contracted.

The National Support Program for Medium Producers (Pronamp) presented an increase of 5% in the volume of resources contracted and reached BRL 3.8 billion. Of this amount, BRL 3.5 billion refer to funding contracts and BRL 306 million to investments. In this sense, the remaining balance to meet future demands of medium-sized producers supported by the program is 93% for investments and 88% for funding, marketing and/or industrialization.

The investment programs, with the exception of Moderfrota (Program for the Modernization of the Fleet of Agricultural Tractors and Associated Implements and Harvesters) and Inovagro (Program to Incentive Technological Innovation in Agricultural Production), require a longer period for analysis. The volume contracted in the first month, in the set of programs, is still relatively small, below 5%.

However, according to the analysis of the Ministry's Agricultural Policy Secretariat, it is worth noting that, in the case of BNDES, in some programs, the value corresponding to the proposals already filed is close to the limit of allocated resources, such as Prodecoop (Development Program Cooperative for Adding Value to Agricultural Production) and the PCA (Program for the Construction and Expansion of Warehouses), which gave rise to the temporary suspension of the acceptance of new financing proposals by the bank for these programs.

However, the total availability of resources for these programs, at the end of last July, was, respectively, 100% and 97% of the value of their programs, since in the current harvest the number of financial agents operating the investment programs has increased. agricultural. The hiring of the PCA had a reduction of 8%.

The sources of resources most used by financial institutions in releasing credit to producers were Mandatory Resources (BRL 8.8 billion), Controlled Rural Savings (BRL 6.0 billion) and Free Rural Savings (BRL 5.1 billion) , whose increase was 106% compared to July 2020.

Free savings accounted for 19% of the total value of contracts in the first month of the current harvest, and the share of total non-controlled resources was 29%.

The value of credit operations carried out with resources from other sources of non-controlled resources and respective variations were: LCAs (Agribusiness Letters of Credit) BRL 1.07 billion (-35%), free resources BRL 1.3 billion ( +34%) and other sources BRL 344 million (+288%).

Controlled sources had a reduction in the share of hiring from 79% to 71% in this harvest, compared to the same period of the previous harvest.

Source: Notícias Agrícolas

This text was automatically translated from Portuguese.