EN 
PT_BR 
Raising funds through Rural Product Certificates (CPR) has consolidated itself as one of the main pillars of financing for Brazilian agribusiness in the first half of the 2025/26 crop year. Between July and December 2025, the volume moved by this instrument reached R$ 121.9 billion, a growth of approximately 30% compared to the same period of the previous season.
The data comes from the rural credit performance report released by the Ministry of Agriculture and Livestock, which points to a significant change in the profile of agricultural financing. In the first half of the year, total rural credit contracted amounted to R$ 284.1 billion, an increase of 31% compared to the previous year, but with growth concentrated mainly in operations via the capital market.
The strength of the CPR (Rural Product Certificate) was evident in the composition of agricultural financing. Adding together traditional resources and those raised through the certificate, financing for agricultural production costs reached R$ 214.4 billion, an increase of 6% in one year. Meanwhile, classic bank financing lines, in isolation, showed a decline, reflecting both the high interest rate environment and the greater selectivity of financial institutions.
The report also shows uneven behavior among the purposes of credit. While operating and investment loans shrank in traditional modalities, resources allocated to industrialization registered significant growth, with an increase of 43% in the period, signaling greater demand for capital along the production chain.
Despite the increase in hiring, the amount actually granted – funds released after the contracts were formalized – totaled R$.
Photo: Paulo Rossi
270.4 billion between July and December, a drop of approximately 21% compared to the same period last year. This data indicates an environment still marked by caution, both on the part of financial agents and producers.
Another trend highlighted by the ministry is the reduction in the total number of contracts, accompanied by greater financial concentration. The interpretation is that producers with greater issuance capacity and access to capital markets have increased their participation in fundraising, especially through CPRs (Rural Product Certificates), while small and medium-sized producers remain more dependent on official credit lines.
For the government, the performance of rural credit at the beginning of the harvest confirms the trend of strengthening private instruments in financing Brazilian agriculture. The CPR (Rural Product Certificate), created to advance resources based on future production, has gained prominence by offering greater financial flexibility in a scenario of monetary constraints and high credit costs.
