Brazil targets 5% increase for next crop and loans 67bn USD to farmers at zero rate

[Judi Lynn]

Tuesday, June 21st 2011 - 02:38 UTC
Brazil targets 5% increase for next crop and loans 67bn USD to farmers at zero rate

The Agriculture and Livestock 2011/2012 Plan announced in an official ceremony by President Rousseff has the target of increasing the current record crop of 161.5 million tons to 169.5 million tons next season beginning July.

“The purpose of the Plan is to consolidate Brazil as one of the major food producers in the world, guarantee domestic supply and increase exports which already represent 40% of all of the country’s overseas sales”, said the Ministry of Agriculture.

The support plan for farmers is also geared to an abundant supply of grains, oilseeds and beans for the home market to stabilize home prices and avoid any inflation bout, because of shortages.

The resources for funding the Plan are 7% higher that for the last crop (62.5 billion USD) and will be implemented mainly through cheap access to credit.

More:
http://en.mercopress.com/2011/06/21/brazil-targets-5-increase-for-next-crop-and-loans-67bn-usd-to-farmers-at-zero-rate