The Chamber of Deputies approved this Wednesday (27) Bill 699/23, which creates Profert (Fertilizer Industry Development Program), a program aimed at stimulating national fertilizer production.
The text provides for lines of financing and the creation of a fund to support investments in the sector, with the aim of reducing Brazil’s dependence on imports of these inputs.
As the deputies changed the proposal previously approved by the senators, the project is now back for new analysis by the Senate.
Senate Bill 699/23, which grants up to R$7.5 billion in subsidies, over five years, for new plants or expansion and modernization of current ones, using exemption from federal taxes.
*Updating
