Mapa announces offer of BRL 6.3 billion to financial institutions in this harvest

The fund has already transferred BRL 3.5 billion to public, private and cooperative banks

Coffee producers, industries and exporters can now access resources available in the 44 institutions qualified to operate with the lines of credit from the Coffee Economy Defense Fund (Funcafé) for the 2023/24 harvest. The fund has already transferred R$ 3.5 billion to public, private and cooperative system banks. R$ 6.3 billion will be offered this season.

This Thursday (17th) a solemn act of signing the contracts was held with the qualified financial agents. Banco Cooperativo Sicoob represented the cooperative financial sector and Banco do Brasil represented the other banks.

The cooperative financial system was responsible, in the last harvest, for 30% of the total invested resources. Cooperative banks, central credit cooperatives and individual cooperatives are part of it.

The Minister of Agriculture and Livestock, Carlos Fávaro, highlighted, in addition to the importance of coffee in national agriculture due to the traceability work carried out by producers, the provision of R$ 40 million in the 2024 budget to strengthen coffee research and promotion activities in Brazil and in the World.

According to Mapa's Commercialization and Supply director, Silvio Farnese, the fund has grown sustainably over the past five years, reaching a record 93% investment of resources in the last harvest, which corresponded to R$ 5.7 billion .

Present at the ceremony were federal deputy Zé Vitor (MG), the president of Conab, Edegar Pretto, the vice president of Government and Business Sustainability at Banco do Brasil José Ricardo Sasseron, the executive director of Caixa Econômica Federal Lessandro Werner, the head CEO of Embrapa Café Antonio Guerra, the president of the National Coffee Council Silas Brasileiro, the president of the Brazilian Association of the Roasted and Ground Coffee Industry Pavel Cardoso, the financial and administrative director of Sicoob Fernando Vicente Neto.

Funcafé

Funcafé is a financial fund with the objective of supporting the coffee sector through the transfer of resources to financial agents, who operate to contract credit with agents in the coffee production chain and finance research, harvest survey and coffee promotion. Brazilian.

The lines served by Funcafé 2023/24 harvest

• Commercialization credit – BRL 2.3 billion

• Costing credit – BRL 1.6 billion

• Financing for the Acquisition of Coffee (FAC) – R$ 1.5 billion.

• Credit for working capital for soluble coffee and coffee roasting industries and for production cooperatives – R$ 883 million

• Credit for recovering damaged coffee plantations – BRL 30 million

Source: MAPA