AreaBrazil

Commodity GroupOilseeds, oils and meals

CommoditySoybeans

Date01/05/2018

Policy CategoryOther

Policy InstrumentEnvironmental policy

DescriptionFined a number of trading firms and farmers for failing to respect embargoes imposed on illegally deforested land located across the country’s Cerrado region.

NotesEarlier this year, Brazil’s environmental agency IBAMA issued fines worth USD 29 million to five large trading firms as well as dozens of farmers for failing to respect embargoes that were put on illegally deforested land located across the country’s Cerrado region. The case concerned grains grown on land declared off-limits for farming to allow native vegetation to regrow. IBAMA detected the concerned areas using geospatial data.