CONAB WILL SELL 86.3 THOUSAND TONS OF CORN AT A SUBSIDIZED PRICE TO THE NORTHEAST AND NORTH OF MG

The Brazilian government is implementing a series of measures to aid small farmers in the Northeast and north of Minas Gerais who have been affected by drought. Conab, the National Supply Company, will sell 86,300 tons of corn at a subsidized price to 44,000 small producers registered with the National Registry System for Rural Producers. The government will allocate R$68.8 million for this initiative and open ten satellite units for sales. This program is part of a larger package that also includes a R$1,200 harvest guarantee payment to over 790,000 families, technical assistance for 13,400 family farmers, and an emergency credit line for those who have suffered production losses. The government will also allow for the renegotiation of debts for 586,000 contracts totaling R$8.2 million.
Source: Nova Cana