Coffee and cocoa stored in EU warehouses at risk of destruction under new rules
- Julhyana Veloso Nunes
- Nov 27, 2023
- 1 min read
Anti-deforestation law passed in June restricts non-compliant stocks from being sold in the bloc
Alice Hancock in Brussels and Susannah Savage in London 27 NOV 2023
Hundreds of thousands of tons of coffee and cocoa stored in EU warehouses are at risk of being destroyed as an unforeseen consequence of the bloc's deforestation law, which came into force in June this year.
The law aims to ban products such as coffee, cocoa, palm oil and rubber grown in deforested areas from being sold within the block. But both the Intercontinental Exchange (ICE) and the International Trade Center have warned that coffee and cocoa produced and stored in the EU during a transition period that lasts until December 2024 could be considered non-compliant and have to be sold outside the block or destroyed.
Check the complete article in the website: Financial Times
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