While strangling the investment capacity, some of the country’s leading agricultural states have been testing alternatives to enable the expansion of agro -industrial capacity to a more competitive capital cost, exploring models that attract the capital market.
Of all, Paraná is the most advanced. Cradle of Brazil’s largest chicken meat production ecosystem, the state led by Governor Ratinho Jr. (PSD) innovated by creating the first Fiagro that mixes state resources and market money, a blend that will allow the construction of producers linked to cooperative C. at a cost of less than 10% per year.
Paraná innovation inspired other initiatives around the country. On Tuesday (5), the governor of Goiás, Ronaldo Caiado, launched in B3 an initiative that will enable the constitution of fidcs dedicated to funding investments in agro-industry, as well as other strategies for the state.
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As with the Paraná, the interest rate on agribusiness will be around 10% per year, said Caiado. No wonder the launch showed that the initiative has already interested, on the side of agro -industries or managers who will manage each fund.
At the ceremony at B3, some of Goiás’ main agribusiness – including São Salvador Alimentos and the sugar and alcohol group Jalles Machado – attended. On the managers’ side, the highlight was XP Investimentos, which was present with Gustavo Almeida, manager responsible for the agribusiness portfolio, and Rafael Furlanetti, institutional director.
ICMS Credits
To enable the different initiatives, Paraná and Goiás unlocked a relevant feature for exporters: the accumulated ICMS credits. In both states, the leap of cattle is the release of these credits for agro -industries to land in the back and thus finance investments in the expansion of the manufacturing park.
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Historically, accumulated ICMS credits are a challenge for exporters, who have difficulty recovering resources. Due to the Kandir Law, exports are tax-free, but usually these resources are sworn in the Treasury, with state governments releasing the dropper, at the taste of one’s fiscal moment.
With initiatives such as Fiagro Paraná and Goiás Fidcs, local governments get an economic and political asset by stimulating new investments, and exporters release credits for expansions that have made the business even bigger.
The format attracted so much interest that Paraná is already in the second notice to create new funds.
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At this time, interested parties are articulating themselves in a process that should bring new managers – BTG Pactual, Itaú and XP are among those interested – to fund the expansion of cooperatives such as home and companies such as GTF (the old GTFoods).
If all goes as expected, Paraná funds will be able to leverage an investment of $ 3 billion to $ 5 billion.
