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The UK government responded on 11 November 2020 to its deforestation consultation by fast-tracking amendments to the Environment Bill. If passed, companies above a turnover threshold must use only forest risk commodities produced legally, carry out supply chain due diligence and publicly report it, with fines for non-compliance.
The amendments are being debated in the House of Commons.
If enacted, UK importers of soy, palm oil and other forest risk commodities would face compliance costs and documentation requirements. The UK is a small buyer, so the effect on global feed prices would be modest.
scceu.orgNov 27, 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.
