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National Monetary Council sets the guarantee price for corn for production in Bahia, Maranhão and Piauí, at R $ 22.75 / sc 60kg

The Board also extended the deadline for the implementation of the Price system, amortization of operations involving the Land Fund and Agrarian Reform.

In an ordinary meeting held on Monday (29), the National Monetary Council (CMN), continuing the definition of prices of guarantee products, approved the guarantee price of corn for production in Bahia, Maranhão and Piauí, in R $ 22.75 / sc 60kg effective from 7/10/2019 to 9/1/2019, according to the variable cost of production determined by the National Supply Company (Conab).

PGPAF grants bonuses (discounts) on the portion of rural financing corresponding to the difference between the guarantee price and the market price (raised by Conab) in the month prior to the payment of the financing. The bonus is only granted when the market price is below the guarantee price and only for the family farmer.

Land and Agrarian Reform Fund-More

On February 22, 2018, the CMN defined conditions for financing from the Land Fund and Agrarian Reform (FTRA), including the amortization of the financing by the Price system, in order to better serve beneficiaries and provide predictability of benefits. .

However, due to operational difficulties in implementing this amortization system, which has been paralyzing financing operations, CMN has granted a deadline until January 1, 2020, so that financial institutions have time to implement the Price system.

In order to speed up the financing process, it also withdrew the requirement for prior approval of funding by the State Council for Sustainable Rural Development (CEDRS), adjusting the waiver given by art. 18 of Decree No. 4,892, of November 25, 2003.