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The European Parliament approved the EU Deforestation Regulation, which bans imports into member states of products linked to deforestation, covering coffee, beef, palm oil, soy, wood, cocoa and rubber. Importers must submit a due diligence statement and verifiable evidence that goods were not grown on land deforested after 2020, with enforcement left to member states.
An estimated third of EU palm oil and soy imports may come from deforested land, so compliance requirements could disrupt these flows and push up sourcing costs. Tighter supply of compliant soy and palm oil could support prices for feed ingredients.
everstream.aiAnne SextonMay 18, 2023After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
