The European Union will seriously reduce soybean imports

The European Union could lose imported soybeans worth 10.55 billion euros per year. RIA Novosti reports this with reference to data from the European Statistical Service and the World Bank. This will amount to 878.8 million euros per month. The reason was the law on forest protection adopted in the bloc countries last December. Let us remind you that it concerns a ban on the import and export of products that are produced through deforestation and child labor. At the same time, products that have not been subject to deforestation are considered to be those where this procedure has not been carried out since December 31, 2020. The above-mentioned oilseed crop belongs to this list, along with products such as palm oil, coffee, cocoa, chocolate, beef and many others. It is also clarified that the ban applies to products that are not certified as coming from sustainably managed lands. Russia will increase exports of vegetable oils to Africa by almost 1.5 times The World Bank also ...