NeoSeed
Agri Credit Radar
Fiagros and CRAs through the numbers they file with Brazil's securities regulator (CVM) every month: what is overdue, who owes and where the risk is.
Data for September 2026. Filings reach the CVM 30 to 40 days after month-end.
CRA receivables
R$ 188 bi
September 2026
CRA overdue
2.36%
over 90 days: 1.63%
Fiagro net assets
R$ 88.2 bi
310 funds
Fiagro investors
1.22 mi
September 2026
Fiagro: overdue
2.74%
exchange-listed: 0.35%
CRA delinquency (% of receivables)
Fiagros: overdue (% of dated portfolio)
Delinquency by type of debtor
Who borrowed. Same instrument, very different risk.
- Input supplier9.73%
R$ 12.3 bi receivable
- Hybrid3.96%
R$ 8.3 bi receivable
- Cooperative2.54%
R$ 4.2 bi receivable
- Other (companies)2.06%
R$ 51.9 bi receivable
- Farmer1.80%
R$ 96.1 bi receivable
- Buyer (trader/processor)0.10%
R$ 15.1 bi receivable
Delinquency by segment
- Hybrid4.88%
R$ 26.3 bi receivable
- Grains2.68%
R$ 43.7 bi receivable
- Other2.58%
R$ 68.3 bi receivable
- Livestock0.59%
R$ 33.2 bi receivable
- Mills (cane)0.25%
R$ 12.1 bi receivable
- Logistics0.00%
R$ 4.4 bi receivable
Largest CRA debtors
What each company owes across all CRAs (receivables × debtor share). Individuals are aggregated, never identified.
| Debtor | Exposure | % of total | Overdue | CRAs |
|---|---|---|---|---|
| MARFRIG GLOBAL FOODS S.A.MBRF3 | R$ 11.65 bi | 8.1% | n/d | 9 |
| KLABIN S.A. | R$ 10.26 bi | 7.1% | n/d | 6 |
| BRF S.A.MBRF3 | R$ 10.24 bi | 7.1% | n/d | 6 |
| BANCO BTG PACTUAL S.A. | R$ 9.54 bi | 6.6% | n/d | 3 |
| RAIZEN ENERGIA S.ARAIZ4 | R$ 7.92 bi | 5.5% | n/d | 6 |
| ENGELHART CTP (BRASIL) S.A. | R$ 4.89 bi | 3.4% | n/d | 3 |
| SEARA ALIMENTOS LTDAJBSS32 | R$ 3.81 bi | 2.7% | n/d | 2 |
| FS INDUSTRIA DE BIOCOMBUSTIVEIS LTDA | R$ 3.53 bi | 2.5% | n/d | 5 |
| IPIRANGA PRODUTOS DE PETROLEO S.A. | R$ 3.50 bi | 2.4% | n/d | 4 |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS S.A. | R$ 3.17 bi | 2.2% | n/d | 6 |
| CAMIL ALIMENTOS S.A. | R$ 2.74 bi | 1.9% | n/d | 3 |
| JSL S.A. | R$ 2.57 bi | 1.8% | n/d | 2 |
| LAR COOPERATIVA AGROINDUSTRIAL | R$ 2.34 bi | 1.6% | n/d | 4 |
| ELDORADO BRASIL CELULOSE S/A | R$ 2.05 bi | 1.4% | n/d | 1 |
| Individuals (farmers, aggregated) | R$ 2.14 bi | 1.5% | R$ 547.0 mi | 37 |
Exchange-listed Fiagros
The funds you buy through your broker. Click a ticker for its history.
| KNCA11 KINEA CRÉDITO AGRO FIAGRO-IMOBILIÁRIO · KINEA INVESTIMENTOS LTDA | R$ 2.16 bi | 92,355 | 0.93% | 0.00% |
| XPAG11 XP CRÉDITO AGRO - FI NAS CADEIAS PRODUTIVAS AGROINDUSTRIAIS · XP VISTA ASSET MANAGEMENT LTDA | R$ 1.46 bi | 35,525 | 1.12% | 0.00% |
| SNAG11 SUNO AGRO - FIAGRO - IMOBILIARIO · SUNO GESTORA DE RECURSOS LTDA | R$ 893 mi | 141,824 | 1.09% | 0.00% |
| RZAG11 FIAGRO RIZA AGRO IMOBILIÁRIO · RIZA GESTORA DE RECURSOS LTDA. | R$ 697 mi | 87,843 | 0.01% | 0.00% |
| FZDB11 TANE FZDB - FIAGRO · TANE CAPITAL LTDA. | R$ 644 mi | 129 | 0.00% | 0.00% |
| FLEM11 TANE FLEM - FIAGRO · TANE CAPITAL LTDA | R$ 587 mi | 14 | 0.00% | 0.00% |
| VCRA11 VECTIS DATAGRO CRÉDITO AGRONEGÓCIO FI LTDA · Vectis Capital Solutions | R$ 463 mi | 9,500 | 0.89% | 0.00% |
| XPCA11 XP CRÉDITO AGRÍCOLA-FUNDO DE INVESTIMENTO NAS CADEIAS PROD · XP VISTA ASSET MANAGEMENT LTDA. | R$ 439 mi | 92,122 | 1.04% | 0.00% |
| FGAA11 FG AGRO FI NAS CADEIAS PROD AGROIND FIAGRO IMOBILIARIO · FG/A GESTORA DE RECURSOS LTDA | R$ 423 mi | 50,058 | 1.16% | 0.00% |
| BBGO11 BB FUNDO DE INVESTIMENTO DE CRÉDITO FIAGRO-IMOBILIÁRIO · BB GESTAO DE RECURSOS DTVM S.A. | R$ 378 mi | 11,409 | 0.85% | 0.00% |
| EGAF11 ECOAGRO I FIAGRO - RESPONSABILIDADE LIMITADA · ECO GESTÃO | R$ 310 mi | 12,556 | 1.41% | 0.00% |
| FZDA11 TANE FZDA FIAGRO · TANE CAPITAL LTDA. | R$ 290 mi | 270 | 0.55% | 0.00% |
| CPAC11 CAPITÂNIA AGRO CRÉDITO FIAGRO-IMOBILIÁRIO · CAPITANIA CAPITAL S.A | R$ 268 mi | 6,760 | 1.08% | 0.00% |
| AAZQ11 AZ QUEST SOLE FIAGRO - IMOBILIÁRIO · AZ QUEST AGRO LTDA. | R$ 208 mi | 29,840 | 0.00% | 0.00% |
| JGPX11 JGP CRÉDITO FI NAS CADEIAS PRODUTIVAS · JGP GESTÃO DE CREDITO LTDA | R$ 205 mi | 5,391 | 0.85% | 0.00% |
Methodology▾
CRA: unpaid instalments ÷ (current + unpaid) across all certificates in the monthly filing (CVM Resolution 60). Over 90 days: buckets from 91 days. Debtor type and segment as declared by the securitizer.
Fiagro: overdue assets ÷ dated portfolio (current + overdue), monthly filing under CVM Resolution 175. Yield and net assets as reported by the administrator. Ticker from the ISIN for exchange-traded units.
Debtors: (current + unpaid) of each certificate × reported debtor share, summed by CNPJ. Company names from the Federal Revenue. B3 link by CNPJ root.
Source: CVM open data (dados.cvm.gov.br). Information, not investment advice.