Brazil: Brazil Unveils 2024-25 Crop Plan with Funds for the Upcoming Agricultural Season

The Government of Brazil (GoB) announced a nominal record in funds for 2024/25 Crop Plan, the main agricultural credit and financing public policy, at R$ 475.5 billion (US$ 88.2 billion). While this year’s funds set a record in nominal terms, nine percent higher than the 2023/24 Crop Plan valued at R$ 435.8 billion (US$ 80.9 billion), agricultural sector representatives deemed the funds insufficient to support farmers struggling with challenging market conditions, such as falling international commodities prices and high production costs. With the Brazilian Real (R$) having devaluated by nearly 11 percent against the U.S. dollar over one year, the 2024/25 Crop Plan values converted to U.S. dollars are two percent below last year’s.