Brazil: from 10 November a bonus on Pronaf loans for family farms — cocoa is in, corn and beans are out

Brazil's National Supply Company (Conab) said on 9 November that the November list of products giving family farms the right to a bonus on Pronaf payments under the PGPAF price guarantee programme has been updated. Cocoa from the state of Bahia is now on the list, while corn and beans were removed because their prices rose above the reference level.

Key figures

• Bonus: 10 Nov–9 Dec
• Cocoa (Bahia): bonus 6.38%
• Honey (MS): bonus 13.11%
• Mango (DF): bonus 11.82%
• Corn and beans: not listed
• Basis: Portaria no. 377

What has changed

The list was updated by Portaria SAF/MDA no. 377 of 6 November 2026, published in the Official Gazette (Diário Oficial da União) on 9 November. Cocoa from family farms in Bahia now qualifies for a bonus on Pronaf financing payments. Corn and beans dropped off the list: their prices rose above the PGPAF reference values.

In figures

The bonus is valid from 10 November to 9 December and is based on October prices:

• Cocoa (Bahia) — 6.38%; honey (Mato Grosso do Sul) — 13.11%; mango (Federal District) — 11.82%.
• Orange — 1.25% (Minas Gerais) and 3.44% (São Paulo); natural rubber (Minas Gerais) — 3.29%.
• Garlic (Minas Gerais) — 2.57%; cashew nut (Ceará) — 1.27%; sugarcane (Alagoas) — 1.16%.
• Banana (Rio de Janeiro) — 0.62%; cassava root (Rio Grande do Norte) — 0.06%.

Context

Wheat (São Paulo), cassava root (Pernambuco) and sugarcane (Paraíba and Pernambuco) are also above their reference prices; the announcement gives no percentages for them. The highest discount percentages for November: orange — Sergipe 77.29%, Pará 64.53%, Bahia 57.44%, Rio Grande do Sul 51.77%; mango — Minas Gerais 62.54% and Bahia 52.45%; banana (Pernambuco) — 60.71%; cowpea bean (Amapá) — 54.4%.

What this means for a buyer

The bonus applies only to family farms with Pronaf financing and only to the listed products in the listed states. If you grow corn or beans, there is no bonus in November: their prices have risen. For growers of cocoa, honey, mango, orange and the other listed products, the bonus gives a discount on the loan payment between 10 November and 9 December. The list is tied to October prices and may change in the next period, so it is best to update your loan-burden calculation every month. When planning machinery purchases for the next season, count payments on current loans without the bonus — it applies only in certain months.

Source: Brazil's National Supply Company (Conab), 9 November 2026