Brazil’s agribusiness credit contracted July–March 2025/26 rose 10% year-on-year to R$404bn, with disbursements at R$387bn (+5%). Rural Product Certificates (CPRs) jumped 38% to R$183.1bn; combined with bank lending, harvest financing reached R$303.1bn (+13%). Industrialization led growth (contracts +74% to R$28.1bn; disbursements +64% to R$26.4bn). Traditional lines weakened: operating credit fell 11% in contracts and 15% in disbursements; investment dropped 16% and 30%, respectively; commercialization declined 10% and 16%. Controlled sources totaled R$106.5bn (-7%), with Mandatory Resources +19% and controlled LCAs surging. Uncontrolled sources reached R$97.3bn, led by LCAs (R$47.8bn) and Free Rural Savings (+39%). Plano Safra equalized funds execution stands at 38%, with R$21.7bn contracted but not yet disbursed.
Source: Nova Cana
