A captação de recursos por meio de fundos de investimento para produtores rurais

Abstract

This study examines the utilization of structured investment funds as an alternative financing mechanism for farm producers through a case study of the CRA02300461/CRA0230040I operation. The qualitative research integrated document analysis and interviews with an investor, a fund manager, and a rural producer to evaluate the advantages, challenges, and impacts of employing Agribusiness Receivables Certificates (CRA) and FIAGRO. Findings indicate that, notwithstanding high costs and operational complexity, these instruments offer increased flexibility, competitive returns, and promote sector professionalization. The analyzed operation demonstrated economic viability, supported by coffee price appreciation and robust guarantee structures, thereby underscoring the potential of capital markets as a complement to traditional rural credit. The study concludes that the integration of agribusiness and financial markets is an irreversible trend, enhancing financing efficiency and reducing dependence on public subsidies.