Investment properties (Tables)

12 Months Ended

Jun. 30, 2019

Investment Properties [Abstract]

Schedule of investment properties

	Land – Farms			Buildings and improvements			Opening of area			Total in operation			Construction in progress			2018
Opening balance		300,487			26,369			53,021			379,877			9,922			389,799
Acquisitions		2,231			152			1,390			3,773			20,088			23,861
Acquisitions – corporate reorganization		113,158			4,141			-			117,299			23,653			140,952
Disposals		(10,676	)		(116	)		-			(10,792	)		(1	)		(10,793	)
Transfers		-			1,979			6,943			8,922			(8,922	)		-
(-) Depreciation / amortization		-			(983	)		(11,916	)		(12,899	)		-			(12,899	)
Effect of conversion		19,879			710			36			20,625			5,607			26,232
Net book balance		425,079			32,252			49,474			506,805			50,347			557,152
At June 30, 2018
Total cost		425,079			39,925			145,397			610,401			50,347			660,748
Accumulated depreciation		-			(7,673	)		(95,923	)		(103,596	)		-			(103,596	)
Net book balance		425,079			32,252			49,474			506,805			50,347			557,152
Annual depreciation rates (weighted average) - %					4-20			10-20

	Land – Farms			Buildings and improvements			Opening of area			Total in operation			Construction in progress			2019
Opening balance		425,079			32,252			49,474			506,805			50,347			557,152
Acquisitions		718			92			408			1,218			26,993			28,211
Disposals		(14,416	)		(2,098	)		(10,662	)		(27,176	)		(765	)		(27,941	)
Transfers		-			10,641			45,726			56,367			(56,297	)		70
(-) Depreciation / amortization		-			(1,268	)		(6,373	)		(7,641	)		-			(7,641	)
Effect of conversion		(820	)		39			259			(522	)		(612	)		(1,134	)
Net book balance		410,561			39,658			78,832			529,051			19,666			548,717
At June 30, 2019
Total cost		410,561			48,599			181,128			640,288			19,666			659,954
Accumulated depreciation		-			(8,941	)		(102,296	)		(111,237	)		-			(111,237	)
Net book balance		410,561			39,658			78,832			529,051			19,666			548,717
Annual depreciation rates (weighted average) - %					4-20			10-20

Schedule of fair values of the investment properties

		Hectares							Fair value*				Book value**
Farm	State	2019		2018		Real estate	Acquisition		2019		2018		2019		2018
Jatobá	Bahia		18,073		30,981	Jaborandi Ltda		Mar-07		231,646		340,942		33,930		56,963
Alto Taquari	Mato Grosso		5,291		5,394	Mogno Ltda		Aug-07		174,580		158,726		35,247		35,962
Araucária	Goiás		5,534		5,534	Araucária Ltda		Apr-07		163,008		137,796		44,672		43,198
Chaparral	Bahia		37,182		37,182	Cajueiro Ltda		Nov-07		373,014		312,256		87,909		82,038
Nova Buriti	Minas Gerais		24,212		24,212	Flamboyant Ltda		Dec-07		35,822		32,145		23,466		23,116
Preferência	Bahia		17,799		17,799	Cajueiro Ltda		Sep-08		65,172		58,171		27,385		27,735
São José	Maranhão		17,566		17,566	Ceibo Ltda		Feb-17		211,988		156,798		110,157		106,387
Moroti	Boquerón Paraguay		59,490		59,490	Agropecuaria Moroti S/A		Feb-18		216,018		188,946		164,190		166,477
			185,147		198,158					1,471,248		1,385,780		526,956		541,876

(*) The fair value of the investment property on June 30, 2019 was R$1,471,248 (R$1,385,780 June 30, 2018). The fair value was determined based on a comparative market approach and was prepared by the Company's specialists. The comparable sales value of investment properties is adjusted considering the specific aspects of each property, where the price per hectare is the most relevant assumption. The fair value presented is considered as level 3 in the fair value hierarchy and there were no reclassifications among levels in the year.

(**) At June 30, 2019 the book value of R$526,956 (R$541,876 at June 30, 2018) is not comparable to that disclosed in the "Investment properties" note, since the note contemplates investments made in certain partnerships (leased farms), which are not an integral part of the Company's portfolio of owned farms.