Brazil to Create 100 Billion-Real Farming Package, Valor Says

June 7 (Bloomberg) — Brazilian President Luiz Inacio Lula da Silva will today announce a 100 billion-real ($54 billion) credit package to support agricultural production for the next crop season, Valor Economico reported, without saying where it got the information.
The package includes 60.7 billion reais of loans at rates subsidised by the treasury, 2.4 billion reais for sugar-cane producers in the Center-South region to build inventory levels and incentives for northeastern fruit growers to boost output, the Sao Paulo-based newspaper said.

The measures will help protect farmers against interest-rate increases, Valor said, citing Agriculture Minister Wagner Rossi.

To contact the reporter on this story: Laura Price at lprice3@bloomberg.net