Top grain companies give up Brazil’s Soy Moratorium
The exit, motivated by tax incentives, is seen as a major setback in the fight against deforestation.
Companies including ADM, Bunge, Cargill, Cofco and Louis Dreyfus have left the Soy Moratorium they created in 2006 to protect the Amazon rainforest from deforestation.
The decision was communicated by industry association Abiove (the Brazilian Association of Vegetable Oil Industries), of which these companies are members, on January 5. It was welcomed by Mato Grosso State Governor Mauro Mendes, who deemed that the moratorium created a prejudice for soy producers by going further than Brazil’s environmental laws.
