#Fiagros

[revista-amazonia]

Fiagros ganham aval para investir em créditos de carbono no agronegócio

  Uma nova oportunidade se abre no mercado de créditos de carbono brasileiro com a publicação de uma norma inovadora sobre os Fiagros (Fundos de Investimento nas Cadeias Produtivas Agroindustriais). A Comissão de Valores Mobiliários (CVM) divulgou, esta semana, a regulamentação que autoriza esses fundos a investirem em créditos de carbono gerados no agronegócio, ampliando as possibilidades de…

[agroemdia]

Estoque de Cédulas de Produto Rural totaliza cerca de R$ 314 bi em fevereiro

Informação consta da última versão do Boletim de Finanças Privadas do Agro, produzido pelo Ministério da Agricultura

Os estoques dos principais títulos privados do agro, bem como o patrimônio líquido dos Fundos de Investimento nas Cadeias Produtivas Agroindustriais (Fiagro), continuaram apresentando desempenho bastante positivo em fevereiro deste ano, em comparação com o mesmo período do ano passado. É o que mostra a última versão do Boletim de Finanças Privadas do Agro, divulgado pelo Ministério da Agricultura…

[crystal-overdrive-old1]

Towards Tyranny Chapter 7

Enver swallowed. He said, breathlessly, ‘You look like a Baneite Empress ready to bring all of Toril under her dominion. All that’s missing is the mask.’

Tav settles into her role as grand duke, and the papers have an awful lot to say about her. Tav gets a surprise shipment from Fiagro Pennygood.

[crystal-overdrive]

RULES: post 5 songs associated with your OC, followed by 3 outfits they would wear

Tagged by @avani-telvanni 🖤

Her Grace, Tavarina Ammakyl, Grand Duke of Baldur's Gate.👑

Under the cut, because it's a big 'un! I tag @doxieandthedead, @dearest-and-nearest. Would love to see more about your OCs if you're up for sharing! ✨

🎼Songs🎤

Anti-Hero, Taylor Swift Describes her relationship to the party and her motivations during her adventure to a tee! The Tavarina song. One day I'll watch as you're leaving, 'Cause you got tired of my scheming...Did you hear my covert narcissism I disguise as altruism...

Seven Nation Army, The White Stripes, The Glitch Mob Grand Duke vibes, girlie raised an army in the undercity. Also, all the rumours! Nationalising the press in revenge! They're gonna rip it off, Takin' their time right behind my back...

Simon Says, Allie X About Tav and Gortash's relationship, her confusion over his motives but instinct to obey his orders. Everyday in every way's a puzzle, Pieces of a person are a game, Love is still a mystery to me but, Watch me move when I hear his name...

Going Under, Evanescence Tav's feelings about Bane and how his patronage warps her desires. I'm going under, Drowning in you...Always confusing the thoughts in my head, So I can't trust myself anymore...

Enter, The Birthday Massacre On Tav making what she thought was a warlock pact, and it coming back to haunt her a decade later. It started as a wish, A cheap thought whispered out loud, Didn't see the risk, In spilling my desire out, It came in like a dream, And left me like a nightmare...

👗Outfits💅

The Ballgown (with bonus red bottoms) The outfit Tav wore to the ball that kicked the whole plot off! Her patron mysteriously loved the outfit, and her and Gortash were, of course, matching for the "optics".

[wonderlandbylilian, Christian Louboutin] 2. The Matchy Court Outfit This image from Elie Saab was the inspiration for the "matchy" gold and velvet dress from Fiagro's collection that Tav tries in chapter seven then wears in chapter nine.

[Elie Saab Autumn Winter 2017 Couture] 3. Party Dress These are as close to the "Banite Empress" dress from chapter seven as I could find. It's missing the fucking Guy Fieri flames but like this is the vibe. I'm going to find some excuse to make her wear it out.

[shopmelanoir, sandrablush]

[sephirajo]

I know I posted about it before, but here is the nerding out in the music shop (which is by Fiagro's clothing store)

The music shop is on the second floor, and some of my friends were like yes, take our time we should be fighting the cult and talk about strings.

[supercantaloupe]

walking around my stupid dorm room in a bathrobe like im peter mattei at the top of nozze di fiagro

[allthebrazilianpolitics]

Capital market issuances reach record R$541.9bn by September in Brazil

According to ANBIMA, R$315.6bn of this are debentures

The volume of capital market issuances reached R$541.9 billion by September, setting a record for the period and marking a 15.9% increase over the R$467.4 billion recorded for the entire year of 2023, according to the Brazilian Association of Financial and Capital Market Entities (ANBIMA).

The majority, R$315.6 billion, was in debentures, followed by R$48.2 billion in credit rights investment funds (FIDCs), R$43.62 billion in real estate receivables certificates (CRIs), R$36.2 billion in real estate funds (FIIs), R$34.6 billion in commercial notes, R$28.9 billion in agribusiness receivables certificates (CRAs), and R$3 billion in Fiagros.

César Mindof, a director at the association, emphasized that securitization instruments—FIDCs, CRIs, CRAs—collectively account for 56% of this year’s total number of operations. “These instruments have played a crucial role in providing companies access to the capital market,” he said.

Commercial notes stood out, totaling R$34.6 billion by September, a record for the period in the association’s historical series, which began in 2012. Privately held companies accounted for 60.5% of this volume.

Continue reading.

[ocombatenterondonia]

FPA: regulamentação dos Fiagros pela CVM amplia oportunidades de financiamento

A Comissão de Valores Mobiliários (CVM) publicou a regulamentação definitiva para os Fundos de Investimentos nas Cadeias Produtivas Agroindustriais, conhecidos como Fiagros. Essa medida é considerada uma conquista importante para a Frente Parlamentar da Agropecuária (FPA), que vê nos Fiagros uma maneira de aproximar o mercado de capitais do setor agropecuário e oferecer novas oportunidades de…

[indoorverticalfarmingnews]

Lavoro Limited Announces New Credit Facility to Support Growth

Key Takeaways Credit Facility Announcement: Lavoro Limited has established a new R$310 million (approximately USD$55 million) credit facility with a three-year term through a new Agribusiness Credit Rights Investment Fund (FIDC-Fiagro). Investment Purpose: The funds will be used to support Lavoro’s working capital needs and general corporate purposes. Previous Funding: This is Lavoro’s second…

[growwwtsup]

Mais BBAS3 e Fiagro Pra Carteira do Canal - VisuInvest: Comprando Liberd...

[revista-amazonia]

Fundo de Investimento do Agronegócio Aumenta 147% em 12 Meses

O valor do patrimônio líquido dos Fundos de Investimento nas Cadeias Produtivas do Agronegócio (Fiagro) registrou um crescimento impressionante de 147% nos últimos 12 meses, alcançando R$ 38 bilhões. Paralelamente, o estoque de Cédulas de Produto Rural (CPR) subiu 36% no mesmo período, atingindo R$ 351 bilhões em junho. Esses dados foram divulgados na edição mais recente do Boletim de Finanças…

[agroemdia]

FPA mantém relação azeda com governo Lula: “Foi opção do Executivo”

Para o presidente da Frente Parlamentar da Agropecuária, deputado Pedro Lupion, o Palácio do Planalto preferiu governar com o STF, e não com o Congresso, ao vetar parcialmente o projeto de lei marco temporal para demarcação de terras indígenas

Deputado Pedro Lupion, presidente da FPA, reafirma que Congresso derrubará o veto presidencial ao marco temporal das terras indígenas – Foto: Divulgação Do Broadcast Em rota de colisão com o governo após os vetos do presidente Luiz Inácio Lula da Silva sobre o projeto que estabelece o marco temporal para demarcação de terras indígenas, o presidente da Frente Parlamentar da Agropecuária (FPA),…

[xxscrabiesxx]

Shuffle your favorite playlist and post the first five songs that come up. Then copy/paste this ask to your favorite mutuals. 💌💛

hello my friend ! recently i've been listening to a classical music playlist :)

1. oriental (arr. for harp and guitar) - enrique granados

2. organ concerto in a minor - johanne s. bach

3. serenade for strings in c minor, op 48: II - tchaikovsky

4. intermezzo no. 3 in a flat major - frances poulenc

5. le nozze di fiagro, k.492 - w. a. mozart

[plfb25811-blog]

Check out this listing I just added to my Poshmark closet: Mens Womens 18k White Gold Over Sterling Silver 20" Figaro Necklace Chain.

[interest-articles]

Brazilian Agriculture Boom Threatened as Farmers Go Bankrupt

Defaults on agricultural loans in Brazil are causing concern for investors and the agribusiness funding market.

Agricultural powerhouse Brazil has experienced a series of bumper crops in recent years, solidifying its position as a global leader in agribusiness. However, the country is now facing a concerning trend of farmers going bankrupt, which is having a negative impact on investors in the agribusiness funding market. The decline in crop prices, particularly for corn and soybeans, has led to defaults on loans and a decrease in returns for investment funds backed by agricultural receivables.

This unexpected turn of events is raising uncertainty among financiers and posing a risk to the Brazilian economy, which has become increasingly reliant on agriculture. This article explores the factors contributing to the wave of bankruptcies in Brazil's agriculture sector and the implications for the agribusiness funding market.

Rising Defaults Threaten Agribusiness Funding Market

The agribusiness funding market in Brazil, valued at $7 billion, is experiencing significant challenges due to rising defaults. Investment funds known as Fiagros, which are backed by agricultural receivables, have seen a decline in value as farmers struggle to make loan payments. Funds such as Galapagos Recebiveis do Agronegocio and SFI Investimentos do Agronegocio have fallen below the value of their underlying assets.

The number of growers filing for bankruptcy protection has increased sixfold in 2023, according to credit data provider Serasa Experian. This wave of bankruptcies is causing concern among financiers and posing a risk to the agribusiness funding market.

The Role of Fiagros in Brazil's Agriculture Boom

Introduced in 2021, Fiagros quickly gained popularity among retail investors seeking high returns and exposure to Brazil's rapidly growing agribusiness sector. These investment funds had over 34 billion reais ($7 billion) under management in January, a 43% increase from the previous year. Fiagros played a significant role in funding Brazil's agriculture boom, as the sector had previously relied on funding from banks and trading firms.

With fresh capital, growers were able to expand soybean plantings at a record pace. However, the current wave of defaults is raising concerns about the health of these funds and the broader access to capital through debt securitization.

Impact on Brazilian Economy and Financial Institutions

The increasing number of farmers filing for bankruptcy is not only a concern for the agribusiness funding market but also for the Brazilian economy as a whole. The country has become heavily dependent on agriculture, and if more farmers continue to go bankrupt, it could pose a risk to economic stability. Major banks, including Itau BBA SA, are closely monitoring clients with debt coming due in the short term to renegotiate maturities and prevent defaults.

Crop prices have been declining since mid-2022, driven by global oversupply and trade disruptions. In Brazil, corn and soybean prices have fallen even further, trading at large discounts to futures in Chicago.

Challenges for Farming Companies and Related Sectors

Several farming companies have already filed for bankruptcy protection due to the profitability squeeze caused by declining crop prices. Elisa Agro Sustentavel Ltda., a soybean and corn producer, and Grupo Castilhos, which grows crops in Bahia and Parana states, have both skipped payments on credit facilities. The number of growers going bankrupt is relatively small, but the acceleration of Chapter 11 filings is concerning.

The profitability squeeze has also affected other sectors, such as the sales of tractors and farming machinery, which experienced a 20% drop last year. Pesticide and seed producers have also been significantly impacted.

Governance Issues and Risk Management

The rapid growth of the Fiagro industry has raised concerns about governance and risk management. Many issuers of receivables backing these investments have no rating and do not provide public information to investors. Agropecuaria Tres Irmaos Bergamasco Ltda., which filed for bankruptcy protection, offered investors a high annual interest rate of 12.3% plus inflation for its local bonds known as CRAs.

This compares to an average coupon of 7.26% for a basket of dollar-denominated bonds from Brazilian companies. The excessive exposure to rural producers with high debt loads has made it difficult for some issuers to withstand economic downturns.

The wave of bankruptcies in Brazil's agriculture sector is causing concern for investors in the agribusiness funding market and posing a risk to the Brazilian economy. Defaults on agricultural loans have undermined the returns of investment funds backed by agricultural receivables, leading to a decline in their value. The profitability squeeze has also affected farming companies and related sectors, impacting sales and leading to financial challenges.

The rapid growth of the Fiagro industry has raised concerns about governance and risk management. As the agriculture industry remains a vital part of Brazil's economy, it is crucial to address these issues and ensure the stability of the agribusiness funding market.

[alimentoseguro]

Especialistas debatem a regulamentação do Fiagro

Assunto terá destaque durante o Congresso Brasileiro de Direito do Agronegócio

O Congresso Brasileiro de Direito do Agronegócio, marcado para 19 de março de 2024, em São Paulo, reunirá especialistas para abordar um tema atual para o agro e o mercado de capitais: os Fundos de Investimentos nas Cadeias Produtivas Agroindustriais (Fiagro), que devem receber uma normalização específica neste ano, após encerramento da consulta pública feita pela Comissão de Valores Mobiliários (CVM) em meados deste primeiro bimestre. As inscrições para participar do evento, com transmissão virtual gratuita, estão abertas no site oficial.

Os Fundos de Investimentos nas Cadeias Produtivas Agroindustriais (Fiagro) têm apresentado um crescimento exponencial. Em janeiro deste ano, o patrimônio líquido dos Fiagros atingiu R$ 34,4 bilhões, o que representa um aumento de 42,1% ante o primeiro mês de 2023. “Até o momento, as regras utilizadas para os Fiagros funcionaram muito bem. Mas é um amadurecimento natural dos produtos de securitização ter uma norma específica. O Fiagro é um fundo muito flexível e interessante, assim, ter uma regra específica vai consolidar ainda mais seu crescimento”, avalia Rafael Gaspar, Sócio do Pinheiro Neto Advogados, que será um dos debatedores do painel Agronegócio e Mercado de Capitais – A Regulamentação do FIAGRO, ao lado de Bruno Gomes, Superintendente de Agronegócio e Securitização da CVM, Cesar Junior, Gerente Executivo de Soluções para o Agronegócio na Serasa Experian, Flavia Palacios, Coordenadora da Comissão de Securitização da Anbima. O debate será moderado por José Angelo Mazzillo Júnior, Consultor da CNA, ex-Secretário de Política Agrícola do MAPA.

Durante o painel, os especialistas contextualizarão a aproximação do agro com o mercado de capitais, abordarão os acertos da regulamentação provisória do Fiagro, o que foi inserido na consulta pública da CVM e a expectativa com a regulamentação final. Também serão tratados temas relacionados ao mercado, como os tipos de transações realizadas e as empresas que podem se beneficiar com esse instrumento, e os assuntos ligados ao desenvolvimento tecnológico e a digitalização, que foram importantes para dar mais transparência e segurança para as operações.

Idealizado pelo Instituto Brasileiro de Direito do Agronegócio – IBDA, o Congresso contará, ainda, com mais três painéis, que versarão sobre temas fundamentais para a segurança jurídica, crescimento econômico e competitividade do setor: Direito de Propriedade, Função Social e Contratos Agrários; Gestão de Risco, Crédito e Recuperação Judicial; e Transição Verde: Bioeconomia e Instrumentos Jurídicos.

A programação será aberta pelo ex-Ministro da Fazenda Maílson da Nóbrega, economista e sócio da Tendências Consultoria, que ministrará a palestra inaugural Tributação e Ordem Econômica. O IBDA prestará, ao longo do evento, uma homenagem a um dos mais importantes juristas do Brasil, o advogado, professor e escritor Arnoldo Wald, sócio e fundador do Wald, Antunes, Vita e Blattner Advogados.

__O Instituto Brasileiro de Direito do Agronegócio (IBDA) nasceu da vocação de estudar os Sistemas Agroindustriais e sua regulação sob o prisma de Direito & Economia. Traz um novo modelo de difusão do conhecimento, formando um observatório para a formulação de políticas públicas e melhor interpretação do conjunto de normas que regulam o setor. __SERVIÇO IV Congresso Brasileiro de Direito do Agronegócio Data: 19 de março de 2024 Local: Riverview Tower São Paulo com transmissão online Mais informações: https://congressodireitoagro.com.br/

Fev/24, com copy a.seg via Mecânica -- enio@meccanica.com.br