Regulatory Alerts2026-06-25 | Resolução CMN 5312CMN Resolution No. 5312 - Adjusts Price Guarantee Program for Family Agriculture (PGPAF) Rules under Pronaf
The National Monetary Council of Brazil, via the Central Bank, issued Resolution No. 5312 to approve guaranteed prices for family agriculture products for the 2026-2027 cycle and amend the Rural Credit Manual. The resolution mandates that financial institutions verify active family farmer registration (CAF) before granting PGPAF discount bonuses and establishes procedures for returning subsidies if such verification fails. These regulatory changes enter into force on July 10, 2026, updating the operational framework for the National Program for Strengthening Family Agriculture (Pronaf).
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