Brazilian govt releases US$ 58 billion on credit loans, price support programs for farmers

08.06.2017

The Brazilian version of the farm bill, called locally as Plano Safra (Crop Plan), was announced today (07.06) and the total amount available was R$ 188.3 billion (almost US$ 58 billion). The amount provided is lower than what was available during the 2016/2017 season if inflation is considered. The investment in the previous crop was R$ 185 billion.

By far, the largest percentage of the plan is put on credit subsidy programs. The total amount used in that is R$ 150 billion. Of this total, R$ 116.26 billion will be used on loans with controlled interested rates and R$ 34 billion with regular interest rates.

“We are here to reaffirm our unequivocal support to Brazilian agriculture. The farm business is synonym of efficency,” said Brazilian president Michel Temer at the lauch of the program.


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