Loading…
On 22 October 2020 the European Parliament adopted MEP Delara Burckhardt's report calling on the Commission to make due diligence on deforestation and human rights mandatory for goods placed on the EU market. The report also covers financial-institution due diligence and traceability obligations.
It passed by a narrow margin of 24 votes above the 353 needed.
The report signals rising EU pressure on imports of soy, palm oil and beef tied to deforestation. Its non-binding status and the need for a Commission proposal limit near-term price effects, but it adds to longer-term demand risk for these commodities.
fern.orgNov 10, 2020After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
