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Farmers, Traders Fined $29 Million for Soy From Brazil’s Savanna

May 23, 2018, 10:57 PM

Brazil issued 62 fines totaling 105.7 million reais ($29.1 million) for planting or buying soy from illegally cut areas of the biologically rich Cerrado tropical savanna, the government said May 23.

Seventy-eight mid- to large-scale farmers were fined about 81 million reais ($22.3 million) for planting soy on dozens of restricted properties the Environment Ministry’s enforcement arm, IBAMA, had banned from commercial use.

In addition, five soy traders were fined 24.6 million reais ($6.78 million) for buying 49,205 sacks of soy produced in restricted areas. They include Cargill Inc. and Bunge Ltd.