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Euronews reports from Côte d'Ivoire, the world's leading cocoa producer, on how cocoa farming is affecting forests and how local cooperatives are preparing for the EU Deforestation Regulation (EUDR). Forest cover in the country reportedly fell from eight to three million hectares between 1990 and 2015, with cocoa encroaching on classified forest.
The EUDR requires EU importers to show that cocoa, palm oil, cattle, soy, coffee, timber and rubber, and derived products, are deforestation-free.
Compliance requirements could raise traceability costs and restrict sourcing from land linked to deforestation, which may tighten supply of soy, palm oil and cattle-linked products for EU buyers.
environment.ec.europa.euDirectorate-GeneralFeb 28, 2024After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 102 past neutral policy events, Live Cattle moved a median +0.6% over 5 sessions (63% higher; middle half -0.7% to +1.2%), and +1.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
