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The European Parliament passed a new law requiring companies to ensure products sold in the EU, including cattle, cocoa, coffee, palm oil, soya, wood and derived goods, do not come from land deforested after 31 December 2020. Companies must file due diligence statements, and human rights and indigenous rights requirements were added.
Compliance costs and traceability requirements may shift EU sourcing away from exporters that cannot verify origin, pressuring palm oil and soy prices in exporting countries.
europarl.europa.euApr 19, 2023After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
