Brazilian Farmers, Ranchers to Get $6 Billion in Financing

June 6, 2016 11:09 AM
 
Brazilian Farmers, Ranchers to Get $6 Billion in Financing

The Brazilian government is tackling its economic recession by offering the country’s farmers and ranchers $8 billion in financing.

The program, which begins July 1, is intended to spur spending and investment in the agricultural sector. The government hopes farmers and ranchers will use the credit to purchase big-ticket items like farm machinery, which has seen softening demand due to low crop prices and other factors.

At John Deere, for example, “in South America, industry sales of tractors and combines are projected to be down 15% to 20% mainly as a result of economic and political concerns in Brazil," according to Deere’s second-quarter earnings release. 

 

Brazil Bails Out Farmers Amid Financial Crisis

Want more video news? Watch it on MyFarmTV.

 

Back to news


 

Comments

 
Spell Check

Keith Mayberry
Essex, MO
6/7/2016 03:43 AM
 

  Would never happen in the United States!

 
 

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close