Amid tension with the productive sector-mainly driven by the decree that increased the IOF (Tax on Financial Operations) and other collected measures that directly impact the sector-the government launches, on Tuesday (1st), the Business crop plan 2025/2026with expectation of record value and more expensive credit.
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Although, within the government, there is an expectation that the contribution exceeds, in nominal values, the R $ 584 billion in funds announced in last year’s crop plan, the executive faces a series of challenges in the construction of the new edition.
These obstacles, which were already large with the, intensified after the edition of a provisional measure that ends the income tax exemption on the LCAs (agribusiness letters of credit).
The MP was published as an alternative to compensate for the retreat in the decree that had raised the IOF. .
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Traditionally, LCAs represent one of the main sources of resources for rural credit financing. In the 2024/25 crop, however, letters dropped to 29%, compared to 43% in the previous crop.
“The proposal announced by Minister Fernando Haddad may further aggravate the current scenario. In addition to the lower attractiveness of these securities due to the minimum grace period required in the arrangement of CMN, the expected taxation tends to discourage investors, generating an additional reduction in the volume of resources applied in LCAs,” says CNA.
“This retraction directly impacts the availability of founding for rural credit,” concludes the entity.
Another problem for the government at this time is the reduced space in the budget. One of the sector’s requests, for example, is the allocation of R $ 4 billion to PSR (Rural Insurance Award subsidiary) in this year’s crop plan.
O Rural insurance It is the main public policy for the protection of agricultural production against losses caused by climate events. It is a way to decrease producers’ exposure to natural risks that lead to crop breaking, such as floods and stronger droughts.
The Minister of Agriculture and Livestock, Carlos Fávaro, admits that it will be difficult to find fiscal space to meet the demand.
Currently, the program has about $ 1 billion in the budget. .
Another sector demand is the creation of a dollar rural financing line. The CNA understands that the scenario foreseen for the next crop will be more challenging than in previous years, due to the high interest rate, which makes credit, and the context of geopolitical uncertainties.
The dollar financing proposal has good receptivity within the federal government. Publicly, ministers already recognize this possibility.
The idea is that indexing in the dollar will serve as an alternative to high interest rates, especially for producers with foreign currency revenues, such as soy, corn, coffee and cotton.
The sector argues that this new line is aimed at producers with dollar -linked contracts, using protection instruments such as future contracts, and that there is a regulation of the spread charged by banks.
