Investing General Discussion

Jysin

Jysin

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The only thing I can say in the UK (notably not EU anymore), every single piece of fresh fruit and vegetables have the city and country of origin on the packaging. Sometimes as much info as the specific farm.

I am all for this transparency as it helps make better informed decisions. Saw a punnet of strawberries yesterday that I nearly bought for my kid, saw that they were stamped somewhere from South America. Took that split second of distraction to remind myself it’s fucking January in Europe, of course they’re shipped in from thousand of miles away. I’ll kindly pass and keep an eye out for local seasonal stuff.

Longwinded way of saying, it wouldn’t surprise me if a lot of these rules are already in place in Europe, but just getting more specific / broadening types of commodities being reported?
 
Tmac

Tmac

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Jysin said:
The only thing I can say in the UK (notably not EU anymore), every single piece of fresh fruit and vegetables have the city and country of origin on the packaging. Sometimes as much info as the specific farm.

I am all for this transparency as it helps make better informed decisions. Saw a punnet of strawberries yesterday that I nearly bought for my kid, saw that they were stamped somewhere from South America. Took that split second of distraction to remind myself it’s fucking January in Europe, of course they’re shipped in from thousand of miles away. I’ll kindly pass and keep an eye out for local seasonal stuff.

Longwinded way of saying, it wouldn’t surprise me if a lot of these rules are already in place in Europe, but just getting more specific / broadening types of commodities being reported?
Click to expand...

In regards to forestry they used to have EUTR (Timber Regulation) which was largely ignored. So now they’re increasing the fines and creating the new org to house it.
 
Mist

Mist

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Jysin said:
The only thing I can say in the UK (notably not EU anymore), every single piece of fresh fruit and vegetables have the city and country of origin on the packaging. Sometimes as much info as the specific farm.

I am all for this transparency as it helps make better informed decisions. Saw a punnet of strawberries yesterday that I nearly bought for my kid, saw that they were stamped somewhere from South America. Took that split second of distraction to remind myself it’s fucking January in Europe, of course they’re shipped in from thousand of miles away. I’ll kindly pass and keep an eye out for local seasonal stuff.

Longwinded way of saying, it wouldn’t surprise me if a lot of these rules are already in place in Europe, but just getting more specific / broadening types of commodities being reported?
Click to expand...
Chilean fruit is actually pretty good. Peru fine too.

Other places, less so.
 
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Fogel

Fogel

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Tmac said:
Not sure how many of you guys work in commodities, but the EU has dropped new regulations that are going to transform the way forestry, cattle, soy, etc. supply chains are tracked.

They want a lot more transparency on origin and they’re going to fine companies that can’t provide it up to 4% of their revenues on goods delivered to the EU.

It’s being called “EUDR Compliance” and I’m wondering if it’s going to impact any company or markets in a good/bad way.

Any of you guys got a bead on this?
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Most mid to large sized food companies are already under a GFSI scheme which would already require this type of traceability, so it's mostly a non issue. Regulations like these are also known about for years to give companies time to get compliant. It took over 8 years for all the regulations in FSMA passed in 2010 to be finalized and enforced.

Mist said:
Chilean fruit is actually pretty good. Peru fine too.
Click to expand...

There's a high risk of food fraud and pesticide use with produce imported anywhere outside of the US, Canada, and EU. I wouldn't risk it.
 
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Edaw

Edaw

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5673gdhf.png
 
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Tmac

Tmac

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Fogel said:
Most mid to large sized food companies are already under a GFSI scheme which would already require this type of traceability, so it's mostly a non issue. Regulations like these are also known about for years to give companies time to get compliant. It took over 8 years for all the regulations in FSMA passed in 2010 to be finalized and enforced.



There's a high risk of food fraud and pesticide use with produce imported anywhere outside of the US, Canada, and EU. I wouldn't risk it.
Click to expand...

I’m not talking about food. And the EU has given companies until the end of the year to get compliant.
 
Fogel

Fogel

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Tmac said:
I’m not talking about food. And the EU has given companies until the end of the year to get compliant.
Click to expand...
Tmac said:
Not sure how many of you guys work in commodities, but the EU has dropped new regulations that are going to transform the way forestry, cattle, soy, etc. supply chains are tracked.
Click to expand...

What the fuck is cattle and soy? Even if you don't process them - if you handle, store, transport, or import/export them, you'd fall under food regulations covered by GFSI which already has requirements in place for traceability, recalls, etc.
 
Mist

Mist

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Fogel said:
There's a high risk of food fraud and pesticide use with produce imported anywhere outside of the US, Canada, and EU. I wouldn't risk it.
Click to expand...
"Food fraud" and pesticide use? Am I supposed to care?

It just needs to taste good and not be dry as shit.

Ya'll sound like hippies now.
 
Fogel

Fogel

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Mist said:
"Food fraud" and pesticide use? Am I supposed to care?

It just needs to taste good and not be dry as shit.

Ya'll sound like hippies now.
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Just a little melamine to fudge some protein tests, what could go wrong

The 2008 Chinese milk scandal was a significant food safety incident in China. The scandal involved Sanlu Group's milk and infant formula along with other food materials and components being adulterated with the chemical melamine, which resulted in kidney stones and other kidney damage in infants. The chemical was used to increase the nitrogen content of diluted milk, giving it the appearance of higher protein content in order to pass quality control testing. 300,000 affected children were identified, among which 54,000 were hospitalized, according to the latest report in January 2009.[1][2] The deaths of six babies were officially concluded to be related to the contaminated milk.[3]
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C

Creslin

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Sanrith Descartes said:
Borrowing money from the Fed at one interest rate and then depositing back at the Fed for a higher rate. Bravo to those who thought of this and facepalm the Fed for not thinking this would happen.
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letting the banks who will eventually hire them into huge salary do nothing jobs make money off the tax payer? Ya I am shocked they didn’t realize it would happen too how could they be so blind…
 
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Mist

Mist

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Sanrith Descartes said:
Borrowing money from the Fed at one interest rate and then depositing back at the Fed for a higher rate. Bravo to those who thought of this and facepalm the Fed for not thinking this would happen.
Click to expand...
Weren't banks doing this in some form or another for like 15 years?
 
Tmac

Tmac

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Fogel said:
What the fuck is cattle and soy? Even if you don't process them - if you handle, store, transport, or import/export them, you'd fall under food regulations covered by GFSI which already has requirements in place for traceability, recalls, etc.
Click to expand...

It’s the commodity, not the stuff that comes off the shelf. Idk how I’m not communicating that clearly, but I’ll assume it’s me and not you being a complete retard about it.

I would hope you’d know the difference between an actual cow and a ribeye.
 
Fogel

Fogel

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Tmac said:
It’s the commodity, not the stuff that comes off the shelf. Idk how I’m not communicating that clearly, but I’ll assume it’s me and not you being a complete retard about it.

I would hope you’d know the difference between an actual cow and a ribeye.
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Yes, I understand the difference, and I understand there are people who simply buy them just to sell else where. However, at the end of the day, the government still classifies it as food, and will regulate it as such. For example, I process food, so I would fall under primary processor: Food Manufacturing. We then have a logistics company store/ship it for us. Even though all they do is move it, they'd fall under: Storage and Distribution

Both of us would be subject to 2.6.1 through 2.6.3 which covers 1. product identification 2. product traceability 3. product recalls

Product Withdrawal & Recall

www.sqfi.com www.sqfi.com

Additionally, if you import any food into the US, you require a FSVP (foreign supplier verification program) program, which requires PCHF (preventive controls for human food) training and certification.

www.fda.gov

FSVP: What Do Importers Need to Know?

An interview with Sharon Mayl answering FSVP questions that importers may have.
www.fda.gov www.fda.gov
 
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Flobee

Flobee

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Sanrith Descartes said:
Some new info I saw

Click to expand...
I didn't think of this at first but its fantastic. People are sending small transactions to this public address "donations" but this has two effects;

1. Non-OFAC compliant 'sats' can be sent to the address which will potentially get them in legal trouble if the rules remain as they are (lol, learn UTXO management suits). This hopefully ends up being a positive in the long run as the idea of 'clean' and 'dirty' BTC needs to die as a concept.
2. Opens the address up to 'dust attacks' which is essentially send incredibly small amounts of BTC to the address such that the amount can't pay on-chain fees, this causes future transactions from this address to be more expensive (every input to an address is included in each transaction and takes space in the transaction, more blockspace = higher fee)

Neither is really significant for their use-case if handled properly but it is a bit funny and I hadn't considered them

 
Furry

Furry

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Flobee said:
I didn't think of this at first but its fantastic. People are sending small transactions to this public address "donations" but this has two effects;

1. Non-OFAC compliant 'sats' can be sent to the address which will potentially get them in legal trouble if the rules remain as they are (lol, learn UTXO management suits). This hopefully ends up being a positive in the long run as the idea of 'clean' and 'dirty' BTC needs to die as a concept.
2. Opens the address up to 'dust attacks' which is essentially send incredibly small amounts of BTC to the address such that the amount can't pay on-chain fees, this causes future transactions from this address to be more expensive (every input to an address is included in each transaction and takes space in the transaction, more blockspace = higher fee)

Neither is really significant for their use-case if handled properly but it is a bit funny and I hadn't considered them

Click to expand...
A donation that they are forced to return from one anonymous source to another anonymous source?

Money laundering GOOOOOOOOOO!
 
Tmac

Tmac

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Fogel said:
Yes, I understand the difference, and I understand there are people who simply buy them just to sell else where. However, at the end of the day, the government still classifies it as food, and will regulate it as such. For example, I process food, so I would fall under primary processor: Food Manufacturing. We then have a logistics company store/ship it for us. Even though all they do is move it, they'd fall under: Storage and Distribution

Both of us would be subject to 2.6.1 through 2.6.3 which covers 1. product identification 2. product traceability 3. product recalls

Product Withdrawal & Recall

www.sqfi.com www.sqfi.com

Additionally, if you import any food into the US, you require a FSVP (foreign supplier verification program) program, which requires PCHF (preventive controls for human food) training and certification.

www.fda.gov

FSVP: What Do Importers Need to Know?

An interview with Sharon Mayl answering FSVP questions that importers may have.
www.fda.gov www.fda.gov
Click to expand...

You’re so annoying and talking about completely unrelated regulations. I’m talking about EUDR.

You’re derailing the whole thread so you can flex on shit that’s not even related to my question. If you can’t answer my original question, kindly stop shitting up the fucking thread. Holy shit.
 
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