Big ag funding in Brazil
A new measure in Brazil will essentially double the amount that country's farmers have access to in government loans to raise a few different crops, mainly sugarcane to bump that nation's ethanol production for the growing number of flex-fuel cars there. Here's an excerpt from this story:
Brazilian President Dilma Rousseff on Friday unveiled an agriculture package providing 107.2 billion Brazilian reais ($67.1 billion) in financing for livestock farmers, sugarcane growers and agribusinesses investing in greenhouse-gas reduction.
The plan, effective this year and in 2012, extends to cattle farmers financing to purchase breeding stock, according to a government press release. It more than doubles borrowing limits for producers of beef, milk, sheep, goats, bees and hogs.
So, what do you think? Big deal?