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The European Commission is planning to require companies selling palm oil, soy, coffee and similar products in the EU to prove they do not contribute to deforestation, according to a leaked document. Countries will be classed as low, standard or high risk, with due diligence obligations set accordingly.
The law is expected to be published in December.
Tighter due diligence on soy and palm oil imports could raise compliance costs and shift sourcing toward low-risk origins, a modest long-term support for soy and palm oil prices in compliant markets.
euobserver.comElena Sánchez NicolásSep 14, 2021After 554 past neutral policy events, SOY 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, PALMOIL 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.
