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Caixa to reduce rural credit interest in September

Credit

Financing will be adjusted by one percentage point. Objective is to stimulate agricultural production

As of September, interest for rural producers will be reduced by Caixa Econômica Federal. Until September 29, financing interest of up to R $ 500 thousand will have a reduction of at least 1 percentage point for cooperatives, individuals and agro-industries.

The loan is part of this year's Safra Plan, which will provide R $ 10 billion in financing. The main agricultural crops are served by Caixa's credit lines, such as soybeans, corn, rice, coffee, cotton, wheat, beans, sugar cane, orange and sorghum, as well as beef and dairy cattle.

According to Caixa, some rates that were 7.5% per year will be 6.7% in the coming weeks. Others, which are usually 8.5% in 12 months, may be traded at 7.5%. The costing lines may also be directed to cooperative commercialization and industrialization operations.

The objective of the reduction, according to Caixa executives, is to stimulate the rural sector to reduce planting costs and improve farmers' performance. In addition to the 1,700 branches of the agency authorized to operate with rural credit, those interested can count on the help of rural consulting firms that have an agreement with Caixa.

Source: Portal Brasil, with information from Agência Brasil