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Brazil Soy Industry Boycotts Beans From the Amazon

Author: Reuters, Published on: 24 July 2006

Brazilian soy crushers and exporters will stop buying soybeans grown in the Amazon...for the time being, industry groups said...bowing to pressure from activist groups...The moratorium, which will last for two years, will apply to soybeans planted as of October 2006 in newly deforested areas of the Amazon...The initiative, spearheaded by the Brazilian Association of Vegetable Oil Producers (Abiove) and the National Grains Exporters' Association, "seeks to reconcile environmental conservation with economic development," the groups said...During the moratorium, Brazilian soy industry leaders...like Archer Daniels Midland Co., Bunge, Cargill and Louis Dreyfus will work with the government and non-governmental organizations to come up with strategies to develop the Amazon while preserving the rain forest. The groups also pledged not to buy soybeans from plantations that use slave labor...

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Related companies: Archer Daniels Midland Bunge Cargill Louis Dreyfus