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The European Parliament showed broad support for a binding legal framework requiring duty-of-care rules on imports linked to deforestation, covering cocoa, coffee, soy, palm oil and beef. The debate and vote took place on 21 and 22 October 2020.
Civil liability for European companies drew opposition from the ID group.
If adopted, mandatory rules covering soy, palm oil and beef would add traceability costs for EU-bound feed and oilseed supply chains. The price impact is not yet clear.
agenceurope.euOct 20, 2020After 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.
