Costa Rica: $10 Million for Cattle Ranchers

©image: Martin Gommel

The Ministry of Agriculture and Livestock (MAG) and the Livestock Development Corporation (COFORGA) will subsidize, with half a million dollars, the four points over the basic passive rate that are charged for development loans. In this way, small and medium producers who enter the program will pay only the basic passive rate (currently 11.25% annually).

According to Nacion.com, "the objective of this loan scheme is to enable farmers to keep young animals in their farm and not slaughter or sell them. At this time, because of the low livestock prices, a great quantity of adult animals is being removed in order to produce more income, and there is a great chance that calves may be sold."

For 18 months, the price of beef has decreased to the point where it is now half the regular price.

Source: Nacion.com

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