Harvest Plan for large rural producers totals BRL 400 bi in 2024
On Wednesday (Jul. 3), Brazil’s President Luiz Inácio Lula da Silva launched the 2024/2025 Harvest Plan for financing agriculture and livestock businesses in the country, totaling BRL 400.59 billion. This represents a 10 percent increase from the previous plan, which was BRL 364.22 billion.
The volume of credit will support large and medium-sized rural producers in the country, including those in the National Support Program for Medium-sized Rural Producers (Pronamp), with interest rates ranging from 7 percent to 12 percent. Of the total amount, BRL 293.29 billion—an 8 percent increase—is allocated for costing and commercialization, and BRL 107.3 billion—a 16.5 percent rise—for investments.
Of the total volume, BRL 189.09 billion will be provided at controlled interest rates, directed at Pronamp (8%) and other producers and cooperatives, while the remaining BRL 211.5 billion will be available at market rates.
For the Moderfrota program, which is aimed at the purchase of agricultural machinery, the interest rate will be 10.5 percent for Pronamp producers and 11.5 percent for others. For Renovagro, which focuses on recovering and converting pastures and promoting environmentally sustainable farming practices, the interest rate will be 7 percent, the same rate applied to producers financing the construction of warehouses with a capacity of up to 6,000 tons.
For larger warehouses and other sustainable production financing, the interest rate is 8.5 percent. For financing the modernization of production systems and the commercialization of cooperative agro-industries, the interest rate is 11.5 percent per year.
"It was during my and Dilma [Rousseff's] administrations that we had the largest harvest plans in the history of this country," said Lula in a speech during the launch of the new Harvest Plan, which has the highest nominal values of all editions of the financing program.
Family farming
At the same ceremony at the Planalto presidential palace, Lula launched the 2024/2025 Family Farming Harvest Plan, earmarking BRL 76 billion for rural credit under the National Program to Strengthen Family Farming (Pronaf). This amount is 6.2 percent higher than last year's allocation and the highest in the program's history.
