Stock of Rural Product Certificates reaches R$ 565 billion in May.

The stock of Rural Product Certificates (CPRs) reached R$ 565 billion in May of this year, a 13% increase compared to the value recorded in the last twelve months. In the accumulated total for the current harvest, from July 2025 to May 2026, there was a 6% decrease in the volume of new registrations, which went from R$ 366.6 billion in the previous harvest to R$ 343.9 billion in the current season. The data is from the new edition of the Private Finance Bulletin for Agriculture, prepared by the Ministry of Agriculture and Livestock (Mapa), which presents information on the performance of the main private financing securities and funds in the sector as of May 2026. According to the Secretariat of Agricultural Policy (SPA), responsible for the study, the CPR has been consolidating its role as one of the main financing instruments for Brazilian agribusiness over the last few harvests. Agribusiness Credit Notes (LCAs) totaled R$ 571.51 billion in outstanding balances in May, a value practically stable compared to the previous twelve months, with a slight decrease of 0.3% in the period. Despite the stability of the outstanding balance, resources allocated to rural financing through LCAs showed expansion. At least R$ 342.9 billion were mandatorily directed to financing agricultural activities, in compliance with the regulatory requirement that determines the minimum application of 60% of the resources raised with the issuance of these securities in agribusiness. Compared to May of last year, the volume allocated to the sector grew by 20%, reflecting the increase in the mandatory allocation of LCAs from 50% to the current 60%. Agribusiness Receivables Certificates (CRAs) registered a 12% growth in outstanding balances in the last twelve months, reaching R$ 175.7 billion in May. Agribusiness Credit Rights Certificates (CDCAs) showed a 6% reduction in stock compared to the same period of the previous year. According to SPA's analysis, this result still reflects the extraordinary growth observed in August 2024, which has been gradually reversed in subsequent months. Investment Funds in Agribusiness Production Chains (Fiagro) continue to stand out for the consistent growth of their net worth over the last few years. Although they still represent a smaller share of the total private resources allocated to agribusiness, Fiagro funds demonstrate the progress and maturity of the Brazilian capital market. In April, the net worth of these funds reached R$ 62 billion, with 247 funds operating normally during the period. The bulletin is prepared monthly by the Department of Financing Policy for the Agricultural Sector of SPA. 

This text was translated by machine from Brazilian Portuguese.