Minas Gerais, a state in southeastern Brazil, has already allocated 3.9 billion Brazilian reais (US$ 2.1 billion) to its current agricultural crop, according to data supplied by the Bank of Brazil. The amount of funds is 18.7% greater than the 3.2 billion reais (US$ 1.79 billion) spent from July 2008 until February 2009.
Projections by the Agricultural Policy and Economics superintendency of Agricultural Policy and Economics of the Agriculture Secretariat of the State of Minas Gerais indicate that the crop in the state of Minas Gerais is going to demand a total of 6.5 billion reais (US$ 3.6 billion).
Out of that total, 5 billion reais (US$ 2.8 billion) should be allocated to entrepreneurial agriculture, and 1.5 billion reais (US$ 840 million) to family farming.
The funds should be spent in funding, investment and selling the output. The total figure to be invested in the crop should be 27.5% higher than that of the previous crop, which was 5.1 billion reais (US$ 2.8 billion).
So far, 1.3 billion reais (US$ 728 million) have already been cleared for coffee farmers, 481 million reais (US$ 269 million) for corn farmers, and 320 million reais (US$ 179 million) for soy farmers.
Cattle farmers have received 829 million reais (US$ 464 million). Out of the total credit granted, the largest share went to the South of the state of Minas (34%), and the second largest share went to the region known as Zona da Mata (18.3%).
The state of Minas Gerais should produce 10.1 million tons in its current crop, according to projections made by the National Food Supply Company (Conab). There should be a 2.9% reduction over the previous crop.
The figure includes production of cotton, peanut, rice, oat, rye, bean, sunflower, castor seed, corn, soy, sorghum, wheat and triticale. It does not include coffee, a product of which Minas is a large producer.