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The European Parliament called on the EU to introduce laws preventing imports of commodities linked to deforestation and human rights abuses, in a report adopted on 22 October 2020. Lawmakers want mandatory due diligence applied to all businesses, including banks, with criminal and civil penalties.
The Commission is expected to propose legislation by next summer.
Proposed due diligence rules could raise compliance costs for importers of soy, palm oil and beef into the EU. Any price effect would depend on final legislation and timing.
finance.yahoo.comMaytaal Angel, Kate AbnettOct 22, 2020After 554 past neutral policy events, Soybeans 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, Palm Oil 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.
