July 27, 2007

Brazil's exporters may break soy moratorium as prices soar

Brazilian soy exporters may be tempted to break their moratorium on increased soy planting due to rising international soy prices.

In July last year, the industry committed to halt purchases of soy from deforested areas of the Amazon.

Members of the Soy Work Group (GTS), which monitors the moratorium believe the price increase may cause an expansion in planted area.

The year would be "complicated", said Paulo Adario, president of Greenpeace in Brazil and a GTS member.