Brazilian agchem distributors win credit lines
The Brazilian central bank is to grant 16 lines of credit to Brazilian pesticide, seed and fertiliser distributors to purchase various agricultural inputs, national business newspaper Valor Economico reports. The Banco do Brasil has agreed a deal this month with the Brazilian agricultural inputs distributors’ association, the Andav. Such credit had not previously been available to the association’s members. Business generated by the deal should exceed R$7,000 million ($4,446 million) in the first year of operation, the newspaper adds. Farmers are also to receive easier terms when looking to acquire products before paying. The Andav reportedly expects the pesticide market to grow by 10% this year.