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In the first month of the 2021/22 harvest, rural credit contracts reached R$27 billion, an increase of 16% compared to the previous harvest. With the volume contracted, in July, investments totaled R$6.8 billion, showing the highest growth (+38%). Financing operations totaled R$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 Harvest, producers enrolled in the National Program to Strengthen Family Farming (Pronaf) had the best relative performance, with a 56% increase and R$6.6 billion contracted, of which R$4.2 billion in operating expenses and R$1.8 billion in investment, the latter with an increase of 61%. Of the amount of resources authorized for Pronaf, 87% of investments and 78% of other purposes still remain to be contracted.
The National Program to Support Medium-Sized Producers (Pronamp) showed an increase of 5% in the volume of contracted resources and reached R$3.8 billion. Of this amount, R$3.5 billion refers to cost contracts and R$306 million to investments. In this sense, the remaining balance to meet future demands of medium-sized producers supported by the program is 93% for investments and 88% for cost, marketing and/or industrialization.
The investment programs, with the exception of Moderfrota (Program for Modernization of the Fleet of Agricultural Tractors and Associated Implements and Harvesters) and Inovagro (Program for Incentive to Technological Innovation in Agricultural Production), require a longer period for analysis. The volume contracted in the first month, in all programs, is still relatively small, below 5%.
However, according to the analysis by the Agricultural Policy Secretariat of MAPA, it is worth highlighting that, in the case of BNDES, in some programs, the value corresponding to the proposals already filed is close to the limit of allocated resources, such as Prodecoop (Cooperative Development Program for Adding Value to Agricultural Production) and PCA (Warehouse Construction and Expansion Program), which led to the temporary suspension of the acceptance of new financing proposals by the bank for these programs.
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However, the total availability of resources for these programs at the end of last July was, respectively, 100% and 97% of the value of their programming, since in the current harvest the number of financial agents operating the agricultural investment programs was increased. PCA contracts were reduced by 8%.
The sources of resources most used by financial institutions in releasing credit to producers were Mandatory Resources (R$ 8.8 billion), Controlled Rural Savings (R$ 6.0 billion) and Free Rural Savings (R$ 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, with the share of total uncontrolled resources being 29%.
The value of credit operations carried out with resources from other non-controlled sources of resources and respective variations were: LCAs (Agribusiness Credit Letters) R$ 1.07 billion (-35%), free resources R$ 1.3 billion (+34%) and other sources R$ 344 million (+288%).
Controlled sources saw a reduction in the share of contracts from 79% to 71% in this harvest, compared to the same period in the previous harvest.
Source: Notícias Agrícolas
