Representatives of the Brazil government and of the Brazil soy supply chain are planning to engage in renewed discussions with EU stakeholders and policy-makers in Brussels this week, writes Nathalie Lecocq. Europe is a sizable soy user, but it does not drive the global soy market. With 9.65% of total imports, European soybean market represents today a reduced share of global trade. China is responsible for 64.04% of all imports and is the largest global importer of soybeans. With Chinese importers only starting to show an interest in sustainability objectives, it is illusionary to expect to have a meaningful impact in global markets and influence production simply by contractual provisions.
EcoVadis's insight:
Hundreds of companies have pledged to cut commodities grown on deforested land from their supply chains, but few have turned those promises into successful policies.
