Big ag funding in Brazil

[Jeff_a_Caldwell]

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? 

[Jim Meade / Iowa City]

The more they grow and process there the better I like it, as their raw materials won't be so available on the world economy.

[nwobcw]

   But any excess will end up on the export market.