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Tue Nov 25, 2014 12:43 PM CST

Brazil's grain industry will extend its moratorium on Amazon soybean purchases until May 31, 2016, amid concerns that deforestation is creeping higher.

The moratorium was due to end Dec. 31, 2014, but it has been given a last-minute reprieve while the new system of environmental controls, laid out in the 2012 Forestry Code, is implemented.

According to Manoel Pereira, chairman of the Brazilian Vegetable Oil Industry Association (Abiove), Izabella Teixeira, the environment minister, requested the 17-month transition period before the end of the moratorium.

Under the moratorium, the soybean industry undertakes to avoid buying soybeans from illegally cleared properties or ...

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