Brazil farmers get a R$1bn inputs credit line
Brazilian farmers have a R$1,000 million ($581 million) credit line available from the country´s central bank, the Banco do Brasil, the business daily, Gazeta Mercantil, reports. The funds are to help farmers pay for agricultural inputs, such as pesticides, in advance. The finance will be available “above all” for maize and soybean farmers. A similar-sized credit line from the central bank last year led to farmers taking just over half of the available funds. The bank released a credit line in 2006 of up to R$514 million ($240 million at the 2006 rate) for the same purpose ( Agrow No 494, p 13). Its vice president, Luiz Carlos Guedes, expects a larger take up, following a recovery in the sector.