Conab corn buying program

US$ 3.35/bushel for Mato Grosso

MINISTRY OF AGRICULTURE, FISHERIES AND FOOD SUPPLY
MINISTRY OF FINANCE

OFFICE OF THE MINISTER

INTERMINISTERIAL ORDINANCE # 330 OF 22 MAY 2013

THE MINISTERS OF AGRICULTURE, FISHERIES AND FOOD SUPPLY AND FARM, using the powers conferred on them by art. 3-A of Law No. 8427 of May 27, 1992, in view of the resolution of the National Monetary Council in 3711, of April 16, 2009, the shelter provided by the Policy of Guaranteed Minimum Price - PGPM, dealt Decree-Law No. 79 of December 19, 1966, and the provisions of Case 21000.000656/2013-25, resolve:

Article 1 There are established the following parameters for the release of Put Option Agreement audience (COV) for corn grain crop in 2012/2013 and 2013 through public auctions to be conducted by the National Supply Company-Conab:

I - participants: farmers, directly or through their cooperatives;
II - contract expiration: November 29, 2013;

III - exercise prices:
a) for the States of the South, Southeast and Midwest (except MT): R $ 19.74 / 60kg;
b) for the states of Mato Grosso and Rondônia: R $ 15.12 / 60kg;
IV - Unit of measure of the contract: 27 (twenty seven) tons;

V - bringing the exercise of the contract: it is admitted by decision of the Ministry of Agriculture, Livestock and Supply (MAPA), the anticipation of the exercise of the contract, deducting for each month in advance
R $ 0.46 / 60kg for States relating to paragraph "a" of section III and R $ 0.42 / 60kg for the United referring to item "b" of section III;

VI - winning COV: may be from the month of August, complying with the criteria set out in section V;
VII - volume features: up to R $ 580,000,000.00 (five hundred and eighty million dollars), the limited budget of the Official Credit Operations - OOC, under Public Training Inventories;

VIII - the date of the auction, participants must have registration in good standing in the Unified Registration System Providers (SICAF) and, on the date of exercise of the option, be in good standing with the Informative Credit Unpaid Federal Public Sector (CADIN);
IX - MAPA may establish limit purchasing contract by auction, for each farmer, directly or through their cooperatives.

Article 2 The operations of VOC shall additionally comply with the conditions laid down by the National Monetary Council Resolution No. 3711 of April 16, 2009.

Article 3 This Ministerial Ordinance shall enter into force on the date of its publication.
ANTONIO ANDRADE
Minister of Agriculture, Livestock and Food Supply
GUIDO MANTEGA
Minister of Finance
D.O.U., 23/05/2013 - Section 1