A group representing some of the world’s largest soybean traders is exiting a landmark deal created in Brazil to protect the Amazon rainforest against deforestation.

"Our own commitments remain clear."

The exit, motivated by tax incentives, is seen as a major setback in the fight against deforestation.

The moratorium was suspended by Brazil's competition authority in August.

By Ana Mano SAO PAULO (Reuters) -Large food retailers, including Tesco, Sainsbury’s and Aldi have urged global grain traders to defend Brazil’s soy moratorium initiative, a pact designed to protect the Brazilian Amazon from soy-driven deforestation. In a letter dated Sept. 5 seen by Reuters, the food grocers directly ask the CEOs of ADM, Bunge, Cargill, Louis Dreyfus Company and China’s Cofco "to publicly reaffirm the 2008 cut-off date" for banning purchases of soybeans from farmers in the sensitive biome. "We are writing to you at a critical moment for the future of the Amazon Soy Moratorium, an initiative your companies have championed, protecting the Amazon for nearly two decades...", the letter said, adding Brazil’s competition authority CADE decision to suspend the program in August "poses a serious threat to this vital agreement." The traders did not immediately respond to a Reuters request for comment. In the letter, retailers said they welcome traders’ efforts to appeal the decision, referring to a court order to reinstate the program. "Even though a temporary injunction was put in place concerning the immediate implementation of the (CADE) order, action is needed to remove any market uncertainty over this time regarding the protections of this vital ecosystem," the letter said. According to signatories of the letter, if any suspension of the soy moratorium occurs, they expect the grain traders to be prepared "to immediately deploy an interim compliance measure on an individual company basis until a longer-term solution is secured" to protect the Amazon. ProPicks AI evaluates ADM alongside thousands of other companies every month using 100+ financial metrics. Using powerful AI to generate exciting stock ideas, it looks beyond popularity to assess fundamentals, momentum, and valuation. The AI has no bias—it simply identifies which stocks offer the best risk-reward based on current data with notable past winners that include Super Micro Computer (+185%) and AppLovin (+157%). Want to know if ADM is currently featured in any ProPicks AI strategies, or if there are better opportunities in the same space?

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The Amazon rainforest could face a renewed surge in deforestation as powerful farming interests in Brazil – backed by a group of politicians – push to overturn a key pillar of its protection: the Soy Moratorium.#Science #environment #ParisClimateAccord #agreement #UNClimateConference #Brazil #Soya #SoyMoratorium #COP30 #Amazonrainforest