The Brazil Securities Commission (CVM) published the ninth edition of its CVM Agribusiness Bulletin, prepared by the Superintendence of Securitisation and Agribusiness, presenting market evolution data for the fourth quarter of 2024 and marking two years since the bulletin’s first edition. The release highlights the rapid expansion of the Investment Fund in Agro-Industrial Chains (FIAGRO) segment and continued growth in Agribusiness Receivables Certificates (CRA). FIAGRO net assets grew 315% between December 2022 and December 2024, rising from BRL 10.5 billion to BRL 43.7 billion, while the market as a whole expanded 17.4% over the same period. CRA net assets increased by BRL 6.1 billion in the quarter and by BRL 57.98 billion over two years to reach BRL 153.5 billion in December 2024, an increase of 60%. Over the last two years, the agribusiness portion of the capital markets segment covered by the bulletin increased 16%, with agribusiness financial volume rising 36% from BRL 397 billion to BRL 540 billion, compared with 17% growth in total capital markets volume from BRL 13.1 trillion to BRL 15.3 trillion. The bulletin also points to CVM Resolution 214, issued in September 2024, as establishing the definitive regulatory framework for FIAGRO, with specific guidelines focused on conduct, transparency and governance. Data are sourced from CVM’s Open Data Portal, Fundos.Net and internal reports on registered offerings, and the publication is accompanied by an interactive dashboard tracking FIAGRO, CRA and agribusiness-related offerings.

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