Apr 13, 2023
2023/24 Harvest Plan in Brazil to Emphasize Sustainable Agriculture
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The new administration in Brazil under President Lula wants to guide Brazilian agriculture on a more sustainable path for food production. They hope to accomplish this starting with the 2023/24 Plano Safra (Harvest Plan) which will be released in May and June and takes effect July 1, 2023.
Brazil's Plano Safra is the equivalent of the U.S. Farm Program but done on an annual basis. The key features of the plan are lower interest loans for crop production, capital investment, and crop merchandising. Generally, the more attractive loan rates are geared toward the medium and small producers.
This week, three Brazilian ministers involved in developing the 2023/24 Plano Safra met to outline some of the key features of the new plan. In the meeting were the Brazilian Minister of Agriculture, Carlos Favaro, the Environmental Minister, Marina Silva, and the Minister of Climate Change, Paulo Teixeira.
One of the major features of the plan will be what is called Plano ABC+, which is Adapting to Climate Change Through Low Carbon Emissions from Agricultural and Livestock Production. The Minister of Agriculture and his team are defining criteria and objectives to reduce carbon emissions from all phases of agricultural, livestock, and forestry production. The objective is to transition to low carbon agriculture and show that Brazil can maintain and grow its agricultural production while at the same time transition to ecological regenerative agriculture.