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At COP28 in Dubai, the European Commission announced an EU observatory on deforestation, a Team Europe initiative on deforestation-free value chains, and new support for partner countries. The EU law begins applying on 30 December 2024.
Expanded EU support for partner countries signals that deforestation-linked trade rules will persist, adding compliance cost to soy and palm oil supply chains over time. The direct price effect is limited in the near term.
environment.ec.europa.euDirectorate-GeneralDec 12, 2023After 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 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.
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.
