SAO PAULO (Reuters) -Brazil's Supreme Court will allow the country's biggest farming state to withdraw tax incentives from signatories of the so-called "Soy Moratorium," a voluntary ban by grain traders on soybean purchases from Amazon areas deforested after 2008, in a setback for the conservation movement.
Conservationists have praised the 2006 Soy Moratorium initiative for slowing damage to the world's largest rainforest. But the agreement is under growing pressure from farmers' lobbies interested in expanding plantings to meet rising demand for soy from Brazil, the leading producer globally.
