LOANS, FINANCING AND DEBENTURES - Breakdown by maturity - non-current (Details) - BRL (R$)
R$ in Thousands

Dec. 31, 2024

Dec. 31, 2023

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

R$ 90,934,144

R$ 72,414,445

2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

9,308,382

2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

10,884,087

2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

9,561,626

2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

15,477,992

2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

10,466,814

2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

35,235,243

Bonds | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

49,166,804

Bonds | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,074,751

Bonds | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,318,390

Bonds | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,083,311

Bonds | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

10,758,081

Bonds | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

6,150,231

Bonds | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

21,782,040

Panda Bonds - CNH | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,016,331

Panda Bonds - CNH | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,211

Panda Bonds - CNH | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,017,542

Panda Bonds - CNH | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Panda Bonds - CNH | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Panda Bonds - CNH | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Panda Bonds - CNH | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Export credits ("export prepayment") | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

16,283,736

Export credits ("export prepayment") | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

5,668,270

Export credits ("export prepayment") | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,889,574

Export credits ("export prepayment") | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,832,090

Export credits ("export prepayment") | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,893,802

Export credits ("export prepayment") | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Export credits ("export prepayment") | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Assets Financing | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

298,252

Assets Financing | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

110,452

Assets Financing | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

112,204

Assets Financing | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

69,012

Assets Financing | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

6,584

Assets Financing | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Assets Financing | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Assets Financing | Domestic (Brazil)

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

56,956

Assets Financing | Domestic (Brazil) | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

18,741

Assets Financing | Domestic (Brazil) | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

19,114

Assets Financing | Domestic (Brazil) | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

19,034

Assets Financing | Domestic (Brazil) | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Assets Financing | Domestic (Brazil) | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Assets Financing | Domestic (Brazil) | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

ECA - Export Credit Agency | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

769,702

ECA - Export Credit Agency | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

670

ECA - Export Credit Agency | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

845

ECA - Export Credit Agency | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

780

ECA - Export Credit Agency | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

912

ECA - Export Credit Agency | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

847

ECA - Export Credit Agency | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

773,756

Export Development Canada (“EDC”) | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,455

Export Development Canada (“EDC”) | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Export Development Canada (“EDC”) | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Export Development Canada (“EDC”) | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,114

Export Development Canada (“EDC”) | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,114

Export Development Canada (“EDC”) | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,114

Export Development Canada (“EDC”) | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,113

IFC - International Finance Corporation | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

5,858,208

IFC - International Finance Corporation | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

6,668

IFC - International Finance Corporation | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

305,291

IFC - International Finance Corporation | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,587,751

IFC - International Finance Corporation | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

2,613,047

IFC - International Finance Corporation | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

1,358,787

IFC - International Finance Corporation | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Total in foreign currency | Foreign

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

73,397,488

Total in foreign currency | Foreign | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,844,924

Total in foreign currency | Foreign | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

10,642,156

Total in foreign currency | Foreign | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,572,498

Total in foreign currency | Foreign | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

15,271,716

Total in foreign currency | Foreign | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

7,509,285

Total in foreign currency | Foreign | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

22,556,909

BNDES – TJLP | Domestic (Brazil) | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

101,587

BNDES – TJLP | Domestic (Brazil) | 2026 | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

90,078

BNDES – TJLP | Domestic (Brazil) | 2027 | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,634

BNDES – TJLP | Domestic (Brazil) | 2028 | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,634

BNDES – TJLP | Domestic (Brazil) | 2029 | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,634

BNDES – TJLP | Domestic (Brazil) | 2030 | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

607

BNDES – TJLP | Domestic (Brazil) | 2031 onwards | TJLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

BNDES – TLP | Domestic (Brazil) | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,607,102

BNDES – TLP | Domestic (Brazil) | 2026 | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

98,668

BNDES – TLP | Domestic (Brazil) | 2027 | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

158,812

BNDES – TLP | Domestic (Brazil) | 2028 | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

155,980

BNDES – TLP | Domestic (Brazil) | 2029 | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

141,823

BNDES – TLP | Domestic (Brazil) | 2030 | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

366,249

BNDES – TLP | Domestic (Brazil) | 2031 onwards | TLP

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

3,685,570

BNDES – SELIC | Domestic (Brazil) | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

704,825

BNDES – SELIC | Domestic (Brazil) | 2026 | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

254,966

BNDES – SELIC | Domestic (Brazil) | 2027 | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

33,888

BNDES – SELIC | Domestic (Brazil) | 2028 | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

33,933

BNDES – SELIC | Domestic (Brazil) | 2029 | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

33,979

BNDES – SELIC | Domestic (Brazil) | 2030 | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

34,024

BNDES – SELIC | Domestic (Brazil) | 2031 onwards | SELIC

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

314,035

BNDES –TR | Domestic (Brazil) | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

70,015

BNDES –TR | Domestic (Brazil) | 2026 | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,178

BNDES –TR | Domestic (Brazil) | 2027 | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,734

BNDES –TR | Domestic (Brazil) | 2028 | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,734

BNDES –TR | Domestic (Brazil) | 2029 | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,734

BNDES –TR | Domestic (Brazil) | 2030 | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,734

BNDES –TR | Domestic (Brazil) | 2031 onwards | BNDES –TR

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

46,901

BNDES –UMBNDES | Domestic (Brazil) | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

157,555

BNDES –UMBNDES | Domestic (Brazil) | 2026 | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

4,258

BNDES –UMBNDES | Domestic (Brazil) | 2027 | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,516

BNDES –UMBNDES | Domestic (Brazil) | 2028 | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,516

BNDES –UMBNDES | Domestic (Brazil) | 2029 | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,516

BNDES –UMBNDES | Domestic (Brazil) | 2030 | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,516

BNDES –UMBNDES | Domestic (Brazil) | 2031 onwards | BNDES –UMBNDES

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

119,233

NCE ("Export Credit Notes") | Domestic (Brazil)

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

100,000

NCE ("Export Credit Notes") | Domestic (Brazil) | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

NCE ("Export Credit Notes") | Domestic (Brazil) | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

25,000

NCE ("Export Credit Notes") | Domestic (Brazil) | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

25,000

NCE ("Export Credit Notes") | Domestic (Brazil) | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

25,000

NCE ("Export Credit Notes") | Domestic (Brazil) | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

25,000

NCE ("Export Credit Notes") | Domestic (Brazil) | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

NCR ("Rural producer certificate") | Domestic (Brazil)

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

2,000,000

NCR ("Rural producer certificate") | Domestic (Brazil) | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

NCR ("Rural producer certificate") | Domestic (Brazil) | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

NCR ("Rural producer certificate") | Domestic (Brazil) | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

NCR ("Rural producer certificate") | Domestic (Brazil) | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

NCR ("Rural producer certificate") | Domestic (Brazil) | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

2,000,000

NCR ("Rural producer certificate") | Domestic (Brazil) | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

Debentures | Domestic (Brazil)

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

9,738,616

Debentures | Domestic (Brazil) | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

7,431

Debentures | Domestic (Brazil) | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

11,767

Debentures | Domestic (Brazil) | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

738,297

Debentures | Domestic (Brazil) | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

11,477

Debentures | Domestic (Brazil) | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

518,399

Debentures | Domestic (Brazil) | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

8,512,595

Total in local currency | Domestic (Brazil)

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

17,536,656

Total in local currency | Domestic (Brazil) | 2026

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

463,458

Total in local currency | Domestic (Brazil) | 2027

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

241,931

Total in local currency | Domestic (Brazil) | 2028

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

989,128

Total in local currency | Domestic (Brazil) | 2029

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

206,276

Total in local currency | Domestic (Brazil) | 2030

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

2,957,529

Total in local currency | Domestic (Brazil) | 2031 onwards

LOANS, FINANCING AND DEBENTURES

Loans, financing and debentures

R$ 12,678,334