Brazil’s antitrust regulator, Cade, has ruled in favor of major soybean traders, allowing companies like Cargill Inc. and Bunge Global SA to continue a significant pact that boycotts crops sourced from recently deforested land in the Amazon. This decision saw a majority of Cade’s counselors vote on Tuesday to lift, through the remainder of 2025, a preventive measure that had been enacted in August, which initially suspended the moratorium. Activities integral to the moratorium, such as the auditing of soy suppliers, are now permitted to continue until the end of the current year.

Counselor José Levi Mello do Amaral Júnior, whose vote was pivotal in securing the majority alongside three other regulators, stated that the decision provides ample time for companies and government agencies to deliberate and achieve a mutual understanding. Despite this ruling, the antitrust authority will maintain its ongoing investigation into whether the agreement—a public commitment by traders to avoid purchasing soybeans from land deforested in the Amazon after 2008—potentially constitutes a cartel.

While not a definitive resolution on the cartel investigation, this ruling is seen as reducing immediate environmental risks. This is particularly relevant as Brazil prepares to host the COP30 climate summit in Belém in November, highlighting the country's commitment to environmental preservation. The decision by Cade followed an appeal filed by the industry group Abiove, which represents prominent traders including Cargill, Bunge, Archer-Daniels-Midland Co., and Louis Dreyfus Co. These traders consistently argued that the moratorium is a crucial tool for preserving the Amazon forest.

Following Cade's decision, Abiove released a statement affirming its readiness to collaborate with the competent authorities. The industry group emphasized its commitment to promoting legal certainty and regulatory predictability within the sector, reinforcing the collaborative spirit desired for the future of sustainable soybean trade in the Amazon region.