This year, the Ministry of Agriculture, Livestock and Supply (MAPA) of Brazil has already passed to banks and credit unions, from the Coffee Economy Defense Fund (Funcafé), 63% of all resources hired for the period July 2016 to July 2017, reports the Department of Agricultural Policy (SPA).
This represents a total of R $ 2.87 billion (nearly US$900 million). According to the Secretariat, the percentage passed so far is within expected for the period. Of the total released, most were intended for storage: about R $ 1.37 billion (US$428 million).
As for the coffee acquisition financing (FAC), financial institutions received R $ 723.9 million. To fund – whose period of engagement by producers and cooperatives started on 1 October – were released R $ 288 million.
For the lines of working capital for the cooperatives of production and roasting and soluble coffee industries, the Ministry transferred R $ 483.6 million to banks and credit unions.
This year, Brazil should harvest 49.64 million bags (60 kg), a 14.8% increase compared to the harvest in 2015, according to the third survey by the National Supply Company (Conab).
