"SAO PAULO - Some of the world's largest soybean traders are preparing to break their agreement to curb deforestation of the Amazon rainforest to preserve tax benefits in Brazil's top farm state, two people with direct knowledge of the matter told Reuters.
The firms exiting the so-called Amazon Soy Moratorium, which has saved millions of acres of tropical forest over nearly two decades, are looking to shield themselves from a new state law in Mato Grosso, the sources said on condition of anonymity.
Starting in January, the state will strip tax incentives from companies taking part in the conservation program. Mato Grosso grew some 51 million metric tons of soybeans in 2025, more than Argentina.
A preliminary report from state auditors in April found that grains traders had benefited from tax incentives worth about 4.7 billion reais ($840 million) between 2019 and 2024."
Ana Mano and Manuela Andreoni report for Reuters December 29, 2025.
Advertisement 
