Banks and cooperatives demand R$ 654.5 million for coffee plantations affected by frost

Banks and cooperatives presented a demand of R$ 654.5 million for the federal government’s credit line to be granted to producers who had coffee plantations hit by frost this year, reported the MeMinistry of Agriculture this Thursday (4).

The volume represents 49% of the total of R$ 1.3 billion in reserved resources of the Econo Defense Fundmethe Coffee (Funcafé) for coffee growers of Mein General, São Paulo and Fornot affected by the climate problem, according to a survey by the Agricultural Policy Secretariat of the menisterium.

“From the systematization of these demands and the signing of contracts by the MeMinistry of Agriculture, Livestock and Supply (Map), the resources will be available for the financial agents next week”, said the folder.

According to the analysis, of the 34 financial agents that operate with Funcafé, nine banks commercials requested BRL 338.8 meillions, while two banks cooperatives and ten cooperatives of credit demanded another R$315.7 memillions. The interest rate is 7% per annum.

The greatest demand was presented by the Bank of Brazil, with BRL 164.5 memillion, the data showed. Next, the Cooperative Central Credi appearsmenas, with a request of R$ 82.98 memillions. The cooperative bank Sicoob requested R$ 80 memillions. Rabobank bank, BTG Pactual and Sicoob Coopacredi are also among the highlights with R$ 60 melions each.

“The resources that were not demanded, about BRL 665 memillion, will later be redistributed for the other lines of credit of Funcafé (funding, marketing, acquisition of café and working capital)”, highlighted the menisterium.

A prolonged drought and the frosts of July can result in significant losses. for Brazil’s next coffee crop.

only in Mein Gerais, the main coffee producing state, it is estimated that damages affected about 19% of the crop areas, equivalent to 173.68 mel hectares, according to the Technical Assistance and Rural Extension Company (Emater-MG).