Brazilian state law overturns soy moratorium that helped curb Amazon deforestation

Associated Press

AGUA CLARA, Brazil (AP) — In 2006, environmental nonprofits and some of the world’s largest soybean traders came together in a landmark “soy moratorium” to stop the sale of soy grown on illegally deforested land in Brazil’s Amazon. Participants included Greenpeace, WWF, Cargill and Bunge. Now, Mato Grosso state, Brazil’s largest soybean producer, has gutted the moratorium, passing a law that ends incentives for trading company signers of the agreement. Brazil´s soybean producers are elated. But processors worry the decision will hurt Brazil’s image. Environmental nonprofits say the change will promote illegal deforestation.