Brazil's Soy Moratorium Decision Postponed by CADE Council
Brazil's CADE antitrust council has delayed a decision on the suspension of the soy moratorium program. Four councilors voted for the postponement, while councilor Carlos Jacques Gomes supported the suspension. The program prevents the purchase of soy from newly deforested Amazon land.
The Brazilian antitrust authority, CADE, has opted to delay its decision on whether to suspend the soy moratorium program, following a vote by four of its councilors on Tuesday. The final decision is now expected by the end of the year.
This deferment comes despite reporting councilor Carlos Jacques Gomes advocating for the suspension of the program, which restricts exporters, including leading global grain traders, from purchasing soy cultivated on Amazon land deforested post-July 2008.
The soy moratorium represents a voluntary initiative aimed at curbing deforestation in the Amazon, a critical environmental issue that has drawn global attention. Observers now await CADE's final ruling, set to have significant implications for trade and environmental conservation efforts.
(With inputs from agencies.)
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