Brazil farmers seek to boycott Danone for cutting out Brazilian soy [Yahoo! Finance Canada]
DANONE S/ADR (DANOY)
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Source: Yahoo! Finance Canada
farmers in the country to boycott Danone after the French dairy giant said it had stopped sourcing soy from the South American agricultural powerhouse. Danone's finance chief told Reuters last week that the company was instead buying soybeans from countries in Asia, ahead of a European Union rule requiring companies to prove they are not sourcing from deforested land. Aprosoja Brasil, a group representing farmers in the world's largest soybean producer and exporter, said in a statement that Danone's move showed "lack of knowledge" of Brazil's production process and was a "discrimination against the country". "There is no doubt that Brazilian producers, tired of being unfairly singled out as villains, will start to have more than enough reasons to put Danone and other global brands on the list of companies to be boycotted in Brazil," the group added. Danone did not immediately respond to a request for comment. The EU Deforestation Regulation, covering imports of commodities l
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