Brazil negotiates increase in potassium imports from Jordan

Senate approves MP that increases guarantees for the agro sector to raise funds

The Senate approved today (28) a provisional measure (MP) that assists the rural sector in carrying out financial operations. As a result, rural producers will have less bureaucracy when it comes to providing guarantees for this type of operation. With approval, the MP is no longer limited in duration and makes its rules permanent. Now, the text goes to presidential sanction.Senate approves MP that increases guarantees for the agro sector to raise funds

The MP, signed in March, creates the Solidarity Guarantee Fund (FGS), which will guarantee any financial operation linked to rural business activity. The fund will cover credit operations (such as loans and financing) and capital market operations (such as derivatives operations in the futures market).

With the fund, it is expected that the guarantee requirements of financial institutions will be reduced and that rural producers will have more access to the financial and credit market. The change in the security requirement for signatures will help small producers and their cooperatives, which have until January 1, 2023, to register Cédulas de Produto Rural (CPR) with a value of more than R$50,000.

Currently, CPRs need to be registered in centralized deposits to control their trading on the secondary market, amounting to around R$200 billion.

The MP’s rapporteur in the Senate, Acir Gurgacz (PDT-RO), defended the MP’s measures in a scenario considered difficult for rural producers, with high interest rates, problems in production chains around the world and an increase in the price of inputs. “Finance for the future harvest is starting and it is necessary to approve this measure that will help Brazilian rural producers, allowing them to find a cheaper alternative financing due to the guarantees that are involved in this type of financing”, he said.

* With information from the Senate Agency

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