# Green Deal: New law to fight global deforestation and forest degradation driven by EU production and consumption enters into force   - Environment

> The EU Regulation on deforestation-free supply chains entered into force on 29 June 2023. It requires companies exporting or placing palm oil, cattle, soy, coffee, cocoa, timber, rubber and derived products on the EU market to show those goods were not produced on land deforested or degraded after 31 December 2020. The main obligations apply after an 18-month transition.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: policy · region EU · magnitude medium
- Page: https://feedsoft.ai/events/35520-green-deal-new-law-to-fight-global-deforestation-and-forest-degradation-driven
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Compliance costs and smaller traceable supply pools could reduce EU-bound demand for palm oil and soy over time, which is bearish for those markets. Exporters may redirect volumes to non-EU buyers, pressuring prices.

## Read by commodity

- SOY: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-04-19 | [Parliament adopts new law to fight global deforestation  \| News \| European Parliament](https://feedsoft.ai/events/36437-parliament-adopts-new-law-to-fight-global-deforestation-news-european-parliament.md) | -1.0% | -8.4% |
| PALMOIL | 2019-10-13 | [EU Agriculture Ministers call for more intensive fight against global deforestation \| AGENCE EUROPE](https://feedsoft.ai/events/56582-eu-agriculture-ministers-call-for-more-intensive-fight-against-global.md) | +2.2% | +18.7% |
| PALMOIL | 2023-05-23 | [New EU Deforestation Regulation: Overview and Key Considerations for Companies — Global Trade & Sanctions Law — May 23, 2023](https://feedsoft.ai/events/35973-new-eu-deforestation-regulation-overview-and-key-considerations-for-companies.md) | -0.2% | -2.9% |
| PALMOIL | 2023-10-03 | [Brazilian Environmental Policies and the New European Union Regulation for Deforestation-Free Products: Opportunities and Challenges - CPI](https://feedsoft.ai/events/33662-brazilian-environmental-policies-and-the-new-european-union-regulation-for.md) | -2.7% | -1.5% |
| PALMOIL | 2022-12-06 | [EU agrees law preventing import of goods linked to deforestation \| Reuters](https://feedsoft.ai/events/38273-eu-agrees-law-preventing-import-of-goods-linked-to-deforestation-reuters.md) | -4.6% | +3.7% |
| SOY | 2023-04-19 | [Parliament adopts new law to fight global deforestation  \| News \| European Parliament](https://feedsoft.ai/events/36437-parliament-adopts-new-law-to-fight-global-deforestation-news-european-parliament.md) | -4.9% | -10.2% |
| SOY | 2019-10-13 | [EU Agriculture Ministers call for more intensive fight against global deforestation \| AGENCE EUROPE](https://feedsoft.ai/events/56582-eu-agriculture-ministers-call-for-more-intensive-fight-against-global.md) | -0.2% | -1.8% |
| SOY | 2023-05-23 | [New EU Deforestation Regulation: Overview and Key Considerations for Companies — Global Trade & Sanctions Law — May 23, 2023](https://feedsoft.ai/events/35973-new-eu-deforestation-regulation-overview-and-key-considerations-for-companies.md) | -3.3% | +12.9% |

## Sources

- environment.ec.europa.eu: https://environment.ec.europa.eu/news/green-deal-new-law-fight-global-deforestation-and-forest-degradation-driven-eu-production-and-2023-06-29_en

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