EU to extend deadline on regulation of exported commodities

Ghana and other countries exporting products to the European Union (EU) will have an additional 12 months to address environmental degradation issues, such as illegal mining, impacting their commodities like cocoa.

This extension comes as the EU considers postponing the Deforestation-Free Product Regulation, initially set to take effect on December 30, 2024.

The proposed deadline extension arises from concerns expressed by EU trade partners regarding their readiness for the regulation’s implementation.

The regulation was first introduced on June 29, 2023, with a compliance deadline of December 30, 2024.

However, the European Parliament has yet to make a decision on this proposal, which has already been approved by the European Council.

If approved, the new timeline would see the regulation implemented in December 2025 for large and medium-sized companies and in December 2026 for small and medium-sized enterprises.

The regulation aims to ensure that key commodities like cocoa, palm oil, and wood, soy, rubber and some of their derived products sold in the EU market do not contribute to deforestation or forest degradation, whether in the EU or globally.

Under this regulation, operators and traders must demonstrate that their products do not originate from recently deforested land or contribute to forest degradation

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