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Stock impact report

Environmental groups condemn new laws threatening soybean restrictions in Brazil's Amazon [Yahoo! Finance Canada]

Bunge Limited Common Shares (BG) 
Last bunge limited common shares earnings: 2/12 06:00 am Check Earnings Report
US:NYSE Investor Relations: bunge.com/investors
The 18-year-old moratorium stipulates that traders and oil producers refrain from buying soybeans grown on land cleared after 2008. The deal gathered strange bedfellows, ranging from environmental groups Greenpeace and WWF to U.S. commodity giants Cargill, Bunge and ADM. However, new laws recently enacted in the Amazon states of Mato Grosso, Brazil's largest soybean producer, and neighboring Rondonia have cut tax incentives for processing and trade companies that adhere to the agreement. Two other states and Brazil's Congress are weighing similar legislation. “This means penalizing companies committed to ending deforestation, promoting the continued expansion of agribusiness in Amazon forest areas, creating subsidies for deforestation and discriminating against the granting of tax incentives based on companies' environmental commitment," Thursday's declaration stated. "Therefore, those who are more ambitious in environmental protection lose the incentive,” said the manifesto wh Show less Read more
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