# Brazil official defends progress on protecting forests, blasts EU ban | Reuters

> Brazil's government defended its progress on forest protection and criticized the EU deforestation ban. The EU rules took force in June and will ban non-compliant products from December 2024. Brazil exported nearly $12 billion of soymeal, soybeans, corn and beef products to the EU in 2022.

- Date: 2023-08-07 · published 2023-08-07T12:00:00.000Z
- Category: policy · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/34613-brazil-official-defends-progress-on-protecting-forests-blasts-eu-ban-reuters
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

If the EU ban is enforced, Brazilian soymeal and corn sold to Europe could face extra compliance costs and possible diversion to other buyers. The dispute is mainly political at this stage, so price impact is modest.

## Read by commodity

- SBM: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-02-19 | [Seven steps to curb deforestation and enhance forest protection: Looking beyond EU-only solutions](https://feedsoft.ai/events/48667-seven-steps-to-curb-deforestation-and-enhance-forest-protection-looking-beyond.md) | -0.7% | -7.2% |
| SBM | 2022-03-21 | [Strengthening the EU regulation on deforestation-free products – Global Canopy](https://feedsoft.ai/events/42305-strengthening-the-eu-regulation-on-deforestation-free-products-global-canopy.md) | +1.4% | -3.3% |
| SBM | 2022-03-15 | [Strengthening the EU regulation on deforestation-free products - Insights - Trase](https://feedsoft.ai/events/42298-strengthening-the-eu-regulation-on-deforestation-free-products-insights-trase.md) | -6.5% | -11.2% |
| SBM | 2024-06-11 | [EU ill-prepared to implement its own deforestation law, says grain trade association \| Reuters](https://feedsoft.ai/events/29771-eu-ill-prepared-to-implement-its-own-deforestation-law-says-grain-trade.md) | -2.0% | +0.3% |
| SBM | 2023-08-09 | [World’s Top Food Producers Push Back on Deforestation Rules - Bloomberg](https://feedsoft.ai/events/34615-world-s-top-food-producers-push-back-on-deforestation-rules-bloomberg.md) | -5.4% | -6.1% |
| CORN | 2023-04-20 | [EU Regulation on deforestation-free products: What comes next for importers / exporters of agricultural commodities? \| BLOMSTEIN](https://feedsoft.ai/events/36440-eu-regulation-on-deforestation-free-products-what-comes-next-for-importers.md) | -1.0% | -9.9% |
| CORN | 2024-12-21 | [Mexican president confident Congress will ban planting GM corn in 2025 \| Reuters](https://feedsoft.ai/events/26959-mexican-president-confident-congress-will-ban-planting-gm-corn-in-2025-reuters.md) | +0.5% | +6.9% |
| CORN | 2025-03-14 | [Presidential Decree protecting the Centre of Origin and Diversity](https://feedsoft.ai/events/25531-presidential-decree-protecting-the-centre-of-origin-and-diversity.md) | +6.8% | +5.7% |

## Sources

- reuters.com: https://www.reuters.com/business/environment/brazil-official-defends-progress-protecting-forests-blasts-eu-ban-2023-08-07/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.