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Biden Wants a Deal with Brazil's Far-Right President to Protect the Amazon. But Can Bolsonaro Be Trusted?


Biden Wants a Deal with Brazil’s Far-Right President to Protect the Amazon. But Can Bolsonaro Be Trusted?
Time
2 hrs ago
Ciara Nugent
© Carlos Fabal – AFP/Getty Images
Aerial view of burnt areas of the Amazon rainforest, near Porto Velho, Rondonia state, Brazil, on August 24, 2019.
State governors, indigenous leaders and environmental groups in Brazil are sending a stark warning to President Joe Biden not to trust his Brazilian counterpart Jair Bolsonaro, as the U.S. attempts to strike a deal with the far-right leader to end deforestation in the Amazon.
Bolsonaro’s representatives have been in talks with Biden’s climate team since February, with billions of dollars in U.S. aid on the table if the two sides can reach an agreement on curbing deforestation in the world’s largest rainforest, along with other environmental goals. Just a week before a leaders’ summit on climate hosted by Biden, Bolsonaro sent the U.S. preside ....

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Traders sue Brazilian farmers for defaulting on early sales


BanksPhotos/iStock/Getty Images
Farmers may be able to make more money by paying fine in contract and selling the same soybeans on the spot market.
Bloomberg | Feb 24, 2021
By Tatiana Freitas
Some Brazilian soybean farmers are defaulting on forward sales made months ago when prices were lower, sparking lawsuits and potentially causing financial losses for trading houses.
Farmers in the world’s largest producer and exporter of the oilseed have sold the most supply ever in advance this season, boosted by strong demand and a weak Brazilian real. By last July, 40% of the 2020-21 crop was already disposed of, compared with the five-year average of 12%. Since the first negotiations, prices more than doubled on robust China demand, causing some farmers to regret selling so much volume. ....

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Food companies and grocers urge commodity suppliers to refuse soybeans from deforested areas in Brazil


Nestlé, Unilever, McDonald s, Walmart Inc., Tesco Plc and other consumer-goods companies demanded in a letter that the traders refuse to trade soy from deforested regions
Some of the world’s largest food companies and grocers urged commodity suppliers including Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc and Louis Dreyfus Co. to stop trading soybeans associated with deforestation in Brazil’s Cerrado region, a savanna that is a hive of biodiversity and one of the country’s most important carbon sinks.
Nestlé, Unilever, McDonald s, Walmart Inc., Tesco Plc and other consumer-goods companies demanded in a letter that the traders refuse to trade soy from deforested regions of the Cerrado starting next year. ....

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Food Giants Seek Ban on Soy From Deforested Brazil Region


Food Giants Seek Ban on Soy From Deforested Brazil Region
Bloomberg
12/15/2020
Thomas Buckley, Agnieszka de Sousa and Tatiana Freitas
© Bloomberg
Soybeans are unloaded into a truck during a harvest in Santa Cruz do Rio Pardo, Sao Paulo state, Brazil, on Saturday, March 7, 2020. Soybean and corn futures slumped as the tumbling real boosted the allure of exports from crop giant Brazil, while coronavirus woes weighted on commodity markets.
(Bloomberg) Some of the world’s largest food companies and grocers urged commodity suppliers including Archer-Daniels-Midland Co., Bunge Ltd., Cargill Inc. and Louis Dreyfus Co. to stop trading soybeans associated with deforestation in Brazil’s Cerrado region, a savanna that is a hive of biodiversity and one of the country’s most important carbon sinks. ....

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