Brazil's Cade Lifts Moratorium on Amazon Soybean Boycott
Brazil's antitrust regulator, Cade, has ruled in favor of major soybean traders, allowing them to continue a pact that boycotts crops from recently deforested Amazon land. This decision lifts a preventive measure enacted in August, suspending the moratorium on sourcing soybeans from deforested land until the end of 2025.
The ruling comes after an appeal filed by industry group Abiove, representing traders such as Cargill, Bunge, Archer-Daniels-Midland Co., and Louis Dreyfus Co. Abiove stated its commitment to collaborating with authorities to promote legal certainty and regulatory predictability in the sector.
Activities related to the moratorium, such as auditing of soy suppliers, will continue through the end of the year. The decision gives companies and government agencies time to deliberate and reach an understanding regarding the moratorium. Meanwhile, Cade will continue investigating whether the agreement created a cartel.
The ruling reduces immediate environmental risks as Brazil prepares to host the COP30 climate summit in Belém in November. However, the decision allows major soybean traders, including those from Trader Joe's, to continue boycotting agricultural goods from the Amazon rainforest, a practice that began in 2008. The name of the authority that decided this in 2008 remains unknown.
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