Business-oriented agricultural credit showed positive performance in the first eight months of the 2025\/2026 Harvest Plan. Between July 2025 and February 2026, contracted resources totaled R$354.4 billion, R$730.8 billion more than the R$330.8 billion recorded in the same period of the previous harvest.<\/p>\n
According to the Rural Credit Bulletin, released by the Ministry of Agriculture and Livestock (Mapa) based on data from the Rural Credit and Proagro Operations System (Sicor) of the Central Bank, the resources effectively released to producers reached R$ 342.9 billion, a growth of 41% of the total. The advance was mainly driven by Rural Product Certificates (CPR) and the industrialization segment, which compensated for declines in traditional lines of credit for operating expenses and investments.<\/p>\n
CPR and industrialization drive growth<\/h4>\n
The highlight of the period was the Rural Product Certificates, which registered R$ 163.4 billion in contracts, an increase of 39% compared to the previous harvest. Added to the traditional financing lines, the total volume allocated to financing the harvest reached R$ 269.8 billion, an increase of 12%.<\/p>\n
Industrialization also experienced strong growth: hiring increased by 56%, reaching R$ 22.2 billion, and disbursements reached R$ 21.5 billion, the largest increase among all purposes.<\/p>\n
Costs and investments decline in traditional lines.<\/h4>\n
On the other hand, traditional lines registered a decline. Contracted operating costs fell by 13%, to R$ 106.4 billion, and disbursed funds fell by 16%, reaching R$ 103.4 billion. Investment saw a decrease of 20% in contracts (R$ 39.5 billion) and 33% in disbursements (R$ 33.0 billion). Sales also declined: a decrease of 15% in contracts (R$ 22.9 billion) and 19% in disbursements (R$ 21.8 billion).<\/p>\n
According to the Ministry of Agriculture's Agricultural Policy Secretariat, the decline in investments reflects caution in the sector given the current interest rates, even with the expectation of a reduction in the Selic rate of about two percentage points by the end of 2026.<\/p>\n
Investment programs: all are showing a decline.<\/h4>\n
The main investment programs showed a decline compared to the previous harvest:<\/p>\n
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Moderfrota: -49%, from R$ 6.85 billion to R$ 3.48 billion<\/p>\n<\/li>\n
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Proirriga: -48%<\/p>\n<\/li>\n
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Inovagro: -33%<\/p>\n<\/li>\n
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Pronamp: -34%, from R$ 5.49 billion to R$ 3.65 billion<\/p>\n<\/li>\n
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Prodecoop: -3%, the smallest negative variation<\/p>\n<\/li>\n<\/ul>\n
Sources of resources<\/h4>\n
Controlled sources totaled R$ 98.8 billion, with a highlight being the controlled Agribusiness Credit Notes (LCA), which grew by 4.038%, reaching R$ 25.7 billion. Mandatory resources increased by 5%, reaching R$ 36.0 billion, while controlled rural savings fell by 26% (R$ 10.6 billion) and constitutional funds decreased by 7% (R$ 13.1 billion).<\/p>\n
In uncontrolled sources, the total was R$ 80.7 billion, a decrease of 24%. Free LCA fell 36%, to R$ 41.1 billion, while free rural savings rose 28%, totaling R$ 35.2 billion. Free BNDES registered a reduction of 18% (R$ 3.8 billion).<\/p>\n
Equiliable resources: there is still a balance available.<\/h4>\n
Of the total R$ 113.4 billion programmed in equalizable resources, R$ 44.1 billion were released up to February, or 39% of the total. In operating expenses, R$ 27.7 billion of the programmed R$ were released; in investment, R$ 16.2 billion of the R$ 49.5 billion; and in marketing, R$ 279 million of the planned R$ 845 million.<\/p>\n
Among financial institutions, Banco do Brasil leads in subsidized investment credit (R$ 6.3 billion) and operating credit (R$ 10.9 billion). Other highlights include BNDES, Sicoob, Sicredi, and Cresol, which executed 100% of the planned subsidized operating credit.<\/p>\n
There are still R$ 15.1 billion contracted but not yet released, including non-binding financing (R$ 7.0 billion), Pronamp (R$ 1.2 billion), PCA (R$ 800 million), Funcaf\u00e9 (R$ 500 million) and Moderfrota (R$ 500 million).<\/p>\n<\/div>\n
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