• Categories
  • Archives

Half of Brazilian Farmers Are Having a Hard Time Repaying Their Loans

A study released today by the Brazilian Confederation of Agriculture and Livestock (CNA) affirms that the incomes of half the farmers are entangled with repaying loans obtained to cover operational expenses.

The study, which was conducted in May, is based on interviews with 2,298 farmers from around the country to gauge the dimensions of the rural credit crisis.

According to the study, 10% of the interviewees have more than 60% of their gross income tied up in loan payments. Only 11% were successful in renegotiating their debts with banks on loans to cover operational expenses.

Another 12% who attempted to renegotiate their debts on loans for investment purposes obtained extensions of the debt repayment period.

The study also found that 49.2% of the farmers tried to obtain loans for operational expenses in the most recent harvest, but only 8% were able to get all the financing they needed at an 8.75% annual interest rate. The rest were forced to accept loans at higher interest rates.



  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Brazil Indian’s Statute Unshelved in Congress 14 Years Later

It took over 14 years and a lot of pressure of Brazil's indigenous movement, ...

Brazil and Mercosur Partners Officially Take In Venezuela

The Mercosur Council formally approved Venezuela’s request to be accepted as a full member ...

Brazil’s Internet Drafted Into Prostitution Fight

In July, 2005, Brazil will have a national data bank on human trafficking, amassing ...

Heir to IBM PC Makes Brazil’s Footballer Ronaldinho Its Ambassador

Lenovo Group Limited announced a cooperation with FC Barcelona and its superstar, Brazilian-born Ronaldo ...

Lufthansa and Japan Airlines Buy US$ 3 Billion Worth of Brazilian Planes

Brazil's Embraer, the world's third largest commercial aircraft manufacturer, has just won 10 new ...

Brazil-France Effort Recovers in the Atlantic 17 Bodies from Air France Jet

Seventeen bodies from the 228 people aboard Air France flight 447 have now been ...

Gol Brazilian Airline Creates Post of Vice President of Management and Personnel

Brazilian Airline Gol announced the creation of a new position in the company, Vice ...

Under the Gun in Rio

In Rio, anyone can ask around and find a cheap pistol and a handful ...

With Seeds and Stones, Brazilian Shoes Sweep Women Off Their Feet

The luxury shoes designed by Jorge Guimarães are already on the feet of Arab ...

Brazilian Chancellor in the U.S. Drumming Up Business for Brazil

The Brazilian Minister of Foreign Relations, Celso Amorim, addressed a Brazilian and American business ...