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GFMM desk: Global grain traders oppose banning the purchase of soy from a specific forested area in Savannah, Brazil, citing a similar halt to the Amazon Rain Forest, an industry agency said Thursday.
“There is no intention of doing this,” Lucas Brito, executive assistant at grain exporters group Anec, told Reuters on the sidelines of an industry conference in Campinas.
Anec represents major grain traders including Archer Daniels Midland Co, Cargill Inc, Cofco, Louis Dreyfus Corp, Glencore and others.
Brito’s comment comes two days after Brazilian farmers said they would launch a campaign to eliminate the so-called “soy moratorium” in the Amazon and that they saw no room for a similar agreement in the Cerrado, as Brazil’s savannah is known.
Agreed to in 2006, the Amazon soy moratorium bans trading in soy from areas deforested after 2008. The industry previously praised it for virtually eliminating soy-related deforestation in the region.
Neighboring the rainforest, the Cerrado savannah takes up roughly a quarter of Brazil and is the country’s second largest biome after the Amazon.
The region has been critical to the expansion of Brazil’s soy farming, but that growth has also lead to the destruction of about half of the Cerrado’s vegetation over the last 50 years. More here…
Source: Online/SZK
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