EN 
PT_BR 
The Gross Value of Brazilian Agricultural Production reached R$ 1.4 trillion in May 2026, according to data released by the Ministry of Agriculture and Livestock – MAPA, on June 17, 2026. Of this total, R$ 908.8 billion comes from crops and R$ 510.2 billion from livestock. Mato Grosso leads the nation, with R$ 213.5 billion, equivalent to 15% of the total. The indicator confirms the state's relevance to the production of food, fiber, energy, and to the country's economy. However, this number needs to be interpreted with caution.
The concept of VBP (Gross Value of Production) refers to the gross revenue within rural establishments, calculated from production and prices received by producers. In other words, the indicator shows the economic value generated by the activity, but it doesn't reveal how much those in the field spent to produce it. In practice, VBP doesn't deduct costs such as interest, rent, freight, storage, taxes, investments, weather losses, or accumulated debts from previous harvests. Therefore, a high VBP doesn't necessarily mean profit, capitalization, or payment capacity. This understanding is essential in the current context of rural indebtedness.
Surveys by Sicor/Central Bank show that, as of April 2026, the active rural credit portfolio totaled R$ 895.18 billion in Brazil, of which R$ 186.52 billion were in problematic situations. In Mato Grosso, it reached R$ 108.03 billion, with R$ 21.78 billion classified as problematic balance, including overdue, delinquent, extended, or renegotiated operations. This means that approximately one-fifth of the rural credit portfolio, both in the state and in the country, already presented some type of compromise.
In the case of Mato Grosso, the problematic balance in April consisted of R$2.20 billion in overdue operations, R$5.25 billion in defaults, R$2.58 billion extended, and R$11.76 billion renegotiated. In Brazil, these figures reached R$15.24 billion in arrears, R$38.77 billion in defaults, R$28.52 billion extended, and R$103.99 billion renegotiated. Added to this is the difficulty faced in extending debts with financial institutions. Even with technical reports, price drops, weather events, and demonstrations of repayment capacity, many producers encounter resistance in formalizing debt extensions. In some cases, the extension is treated as a common commercial renegotiation, requiring additional guarantees such as fiduciary assignment, exorbitant interest rates, and terms incompatible with the economic reality of the activity. Furthermore, production costs continue to put pressure on the productive sector.
A survey by the Agricultural Production Cost Project, developed by Senar-MT through Imea, indicates that the cost of soybean production for the 2026/27 harvest in Mato Grosso is expected to increase by 3.21% compared to the previous harvest, with an estimated cost of R$ 4,315.29 per hectare. Among the components that most pressure the cost are fertilizers and soil amendments, with an increase of 5.40%, influenced by geopolitical factors, in addition to pesticides, which increased by almost 11% compared to the previous cycle. The survey also points to an increase of 9.13% in the break-even point of the activity, which means that it will be necessary to achieve higher productivity or better market prices just to maintain profitability.
At the same time, the volume announced in the 2025/2026 Harvest Plan does not necessarily reflect the credit that reaches the producer. In the accumulated period from July to April, concessions for agriculture, excluding Pronaf and disregarding CPR, showed a decrease of approximately 11%, going from R$ 258.2 billion in July 2024–April 2025 to R$ 229.4 billion in July 2025–April 2026. The contraction was mainly driven by operating costs, which fell by 12%, by investment, which decreased by 25%, and by marketing, with a drop of 20%. In absolute values, the three modalities totaled a reduction of R$ 40.6 billion. The growth of 69% in industrialization partially offset this decline, but was not enough to prevent the total contraction of R$ 28.8 billion in traditional forms of agricultural financing.
In Mato Grosso, funding for the 2025/26 soybean crop indicates a more restricted credit scenario, with the Financial System and Multinational companies playing a more prominent role in financing, under more selective conditions. A survey by Imea shows that the largest share of financing for the oilseed comes from the financial system, with 35.4%, followed by multinational companies, with 30.7%, and producers' own resources, with 23.5%. Banks with federal resources represent only 5.1%, a percentage lower than that of resellers, which account for 5.3%. In concrete terms, official rural credit, especially under controlled or equalized conditions, has not kept pace with the real financing needs of the productive sector.
The current situation shows that the problem is not a lack of production. Mato Grosso remains productive, competitive, and essential to Brazil. The difficulty lies in the economic imbalance of the activity: production costs are increasingly higher, credit weighs heavily on cash flow, climate risks are increasing, and the prices received do not always keep pace with rising expenses.
Measures like Bill 5.122/2023 need to move forward because they address rural debt in a structural way. The proposal cannot be treated as a simple fiscal cost. It reorganizes debts, makes credit available, and restores repayment capacity. Without this, production, food security, and the economic sustainability of rural activity are at risk.
The Gross Value of Production (VBP) confirms that agriculture in Mato Grosso is strategic for Brazil. However, this result cannot be used to minimize the indebtedness of producers or to create artificial obstacles to necessary solutions. Producing a lot does not mean being financially healthy. The VBP shows the magnitude of production, but it does not reveal the weight of the burdens, interest, and debts that producers carry to keep the activity afloat, guarantee supply, stimulate the economy, and contribute to job and income generation.
