Chamber approves rural debt MP after deal with agriculture sector and inclusion of 'jabutis'
Chamber approves MP for renegotiation of rural debts with changes proposed by the agro lobby and 'jabutis'. Read more at Gazeta do Povo.
TL;DR
- The Chamber of Deputies approved MP 1.376/2026 to renegotiate debts of rural producers affected by extreme climate events between 2019-2025.
- Key changes include extending the default timeframe from Jan 1, 2024, to Jan 1, 2021, and the reference date for default from May 2026 to October 2026.
- Minimum gross income reduction requirements were lowered for certain regions (Sudam, Sudene, Sudeco).
- Refinancing now covers Cédulas de Produto Rural (CPRs) issued to cooperatives, input suppliers, and others, not just financial institutions.
- Collective loss reports are now permitted for micro, mini, small, and medium producers.
- Operations include rural working capital, collective Pronaf loans, and Credit Bank Notes (CCBs) for debt renegotiation.
- The measure addresses the rise in rural credit default from 3.99% in May 2024 to 7.17% in May 2026.
- General rule requires proof of losses in at least two harvests between 2019-2025, with at least a 30% drop in expected gross agricultural income.
- Repayment terms include up to eight years with a two-year grace period for principal payment.
- Interest rates and limits are set for Pronaf (6% interest, R$400k limit), Pronamp (9% interest, R$2 million limit), and Other Rural Producers (12% interest, R$4 million limit).
- Beneficiaries have 120 days from regulation, extendable for another 120 days, to formalize contracts.
- Unrelated provisions ('jabutis') were added, altering rules for airport duty-free shops and submitting e-cigarettes/vapes to Anvisa regulation.
- The deadline for property contract eligibility requests for FCVS was extended to June 30, 2027.
- Provisions related to financing electric/hybrid vehicles and FNDCT/Finep loan amortizations were removed.