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Brazil suspends subsidized agricultural financing; deadlock impacts next harvest

RIO DE JANEIRO, BRAZIL - The Ministry of Economy said that financial institutions operating credit lines subsidized by the National Treasury are being notified to immediately suspend new contracts for subsidized financing, at a time when there are still over R$9 (US$1.71) billion in resources to be contracted in the 2020/21 Crop Plan forecast.

Although the suspension of funds occurred as the crop year draws to a close, this affects producers who typically take out loans now to prepare for the next season's costs, according to a specialist from the Brazilian Confederation of Agriculture and Cattle . . .

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