Quick Take — Major Brazilian grain traders abandon Amazon conservation pact

Abiove, which includes ADM (ADM.N), Bunge (BG.N), whose members include Cargill, Cofco and Louis Dreyfus, confirmed that it had ‘initiated talks’ to exit the pact, which is supported by the federal government and environmental groups.

The WWF said in a note that the decision was a setback for the environment.

The companies’ exit from the pact ‘weakens one of the most effective tools to combat deforestation in the country’ and exposes farmers to increasing climate risks, WWF said.

Reuters

JBS: skyrocketing meat prices in the US amid use of anti-obesity drugs and increasing protein consumption

The anti-obesity molecule revolution is challenging the model of the industry giants, which could lose up to USD 90 billion in the US by 2031. As a result, multinationals are trying to switch to Europe and a more protein-rich offer. And US restaurants – given the level of meat inflation – are struggling and reducing staff and portions of their dishes

The European Parliament votes to dismantle the law against deforestation

The anti-deforestation legislation, hailed as revolutionary by environmental organisations, was strongly criticised from the start by some countries, such as Brazil, the US and, within the EU, Germany, eager to protect their foresters. Several large companies, including Nestlé, Danone and Ferrero, had however prepared themselves and were urging Brussels to definitively implement it…

JBS, the Brazilian meat giant, is set to benefit from the treaty between Europe and Mercosur

Great attention should be paid to safeguard clauses and reciprocity agreements, but the EU-Mercosur agreement should not be held up as a scapegoat against which to vent one’s frustration at problems in the sector that actually have an entirely different cause: first and foremost, the low profitability of the agricultural sector compared with the rest of the economy