These stocks of coffee and cocoa were threatened with destruction by new European regulations

Published 2023년 11월 27일

Tridge summary

New EU regulations on deforestation could lead to the destruction of large reserves of coffee and cocoa stored in port facilities as they may be considered non-compliant. The Intercontinental Exchange and the International Trade Center have warned that coffee and cocoa stored in the EU during the transition period could be seen as non-compliant and would need to be sold outside of the EU or destroyed. This has raised concerns about the potential disruption to the industry and the supply chain from producer to consumer.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

An unexpected consequence of the recent European Union (EU) law on deforestation. Large reserves of coffee and cocoa, currently stored in port facilities, are threatened with destruction. Coming into force in June, the new regulations aim to prohibit the sale within the EU of products resulting from deforestation such as coffee, cocoa, palm oil or rubber. Considered non-compliant? The Intercontinental Exchange (ICE), a leading coffee and cocoa futures trading platform, and the International Trade Center, a joint agency of the United Nations and the World Trade Organization, have established niche. They warned that coffee and cocoa stored in the EU during the transition period (until December 2024) could be considered non-compliant and would have to be sold outside the union or destroyed. Pamela Coke-Hamilton, executive director of the International Trade Centre, stressed to the Financial Times that there is no problem with products entering the market during the transition period. ...

Source: Bfmtv