2023-07-04 23:40:18
By Roberto Samora
SAO PAULO (Reuters) – Inventories of the Agribusiness Letter of Credit (LCA), the main source of free resources for Brazilian rural credit, totaled 404.4 billion reais in May, up 62% over the same period last year , informed the Ministry of Agriculture this Tuesday.
The LCA, with a participation of around 25% in the financing of the 2022/2023 Crop Plan, is the security with the largest stock recorded in the June Bulletin of Private Finances of Agro, prepared by the Agricultural Policy Secretariat of the Ministry of Agriculture.
For the new Crop Plan 2023/24, some changes may stimulate the title in agribusiness, indicated the ministry.
According to the Resolution of the National Monetary Council (CMN) nº 5.087 of June 29, 2023, the volume of the LCA balance that needs to be directed by financial institutions to rural financing was increased from 35% to 50%, a novelty of the new Crop Plan 2023/24.
In addition, financial institutions will now be able to use the resources raised through this bond to be equalized by the National Treasury, in the case of those lines with controlled interest rates, the ministry said in a note.
Other securities in the sector, such as the Rural Product Certificate (CPR), Agribusiness Receivables Certificate (CRA) and Investment Funds in Agribusiness Productive Chains (Fiagro) also saw significant increases in stocks.
The Fiagros, with the most recent creation, registered an increase of 244%, to 14.1 billion reais. CPRs, on the other hand, were up 76%, to 248.77 billion reais.
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Fonte:
Reuters
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