Business agricultural credit grows 6% in the 2025/26 Harvest Plan, driven by the advancement of the CPR (Rural Product Certificate).

Business-oriented agricultural credit showed positive performance for the 2025/2026 harvest plan period. Between July 2025 and January 2026, contracted resources totaled R$316.57 billion, a growth of 61% compared to the same period of the previous harvest. Resources actually granted, already released into producers' accounts, reached R$307.11 billion, an increase of 3%, according to data from the Rural Credit and Proagro Operations System (Sicor) of the Central Bank.

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The main highlight of the period was the growth of Rural Product Certificates (CPRs), which advanced 37%, reaching R$ 143.22 billion. As most of the resources raised through the CPR are destined for crop financing, when adding traditional financing and the CPR, the total volume allocated to production financing reached R$ 241.38 billion, 10% above that recorded in the 2024/2025 crop year.

Conversely, credit for investments decreased by 20%, totaling R$ 35.41 billion contracted. Among the programs, the Warehouse Construction Program (PCA) remained practically stable, with a slight contraction of 1%.

Cautious scenario

The more restrictive environment reflects factors related to both the demand and supply of credit. On the demand side, rural producers prioritized financing, essential for immediate production. On the supply side, financial institutions adopted a more cautious stance, influenced by high interest rates; the Selic rate remains at 151% per 4-month period per year, although there is an expectation of a reduction of more than two percentage points by the end of 2026.

Commercialization recorded R$ 20.56 billion in contracted goods, a decrease of 10%. Industrialization, on the other hand, showed the opposite trend, with R$ 19.22 billion and growth of 45%, indicating greater interest in processing and adding value to agricultural production.

Sources of resources

Photo: Gilson Abreu

Controlled sources totaled R$ 92.26 billion, a decrease of 7% compared to the previous year. Notable examples include mandatory resources (R$ 30.89 billion, -6%), controlled LCA (R$ 24.60 billion, +4.649%), and controlled rural savings (R$ 12.73 billion, -8%). Constitutional funds totaled R$ 11.74 billion, with varying performance across regions.

Uncontrolled sources registered R$ 71.63 billion (-25%), with emphasis on free LCA (R$ 37.41 billion, -33%) and free rural savings (R$ 30.35 billion, +21%).

Number of contracts

The total number of contracts signed fell by 24%, from 445,156 to 337,548 operations. The reduction was mainly concentrated in the segments of agribusiness (other producers, -38%) and CPR (-14%). Pronamp registered 133,261 contracts, a decrease of 18%.

The data indicates a semester marked by the expansion of CPRs (Rural Product Certificates) and the contraction of traditional lines of credit, especially investment lines. The share of CPRs in the total granted increased from 34% to 47%, signaling a change in the profile of resource acquisition by Brazilian rural producers.

>> CHECK OUT THE RURAL CREDIT PERFORMANCE REPORT – AGENCY AGRICULTURE