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National Monetary Council authorizes the extension of the installments of rice crop costing rural credit operations

Measure will allow producers to market 2018/2019 crop in better conditions

The National Monetary Council (CMN), with a view to allowing rural rice producers additional time to market, in better conditions, the product harvested in the 2018/2019 crop, authorized financial institutions to extend the maturity of rural credit installments. of crop, overdue or falling due in July and August 2019, contracted in the agricultural year 2018/2019.

The extended installments shall be restated by the normal contractual charges and the payment may be made in up to 3 consecutive monthly installments, with the first due date in October 2019.

The relationship between variable production costs and average price in Rio Grande do Sul (main rice producer in the country) increased by 25% between the 2012/13 to 2016/17 and the 2017/18 to 2018/19 crops. . This evolution of the cost indicates compression of the margins of rice producers, which compromises the financing repayment capacity, particularly of the costing operations contracted from the 2018/2019 agricultural year.