Bunge Q3 Profits Double

NEW YORK - Oct 28/04 - SNS -- Bunge Limited reported net income of U.S. $189 million on net sales of $6,560 million during the third quarter ending September 30, more than double the $89 million net on sales of $5,784 million reported during the same quarter last year.

The results lifted net income for the nine months ending September 30 to $364 million on sales of $18,956 million; up from net income of $311 million on sales of $15.807 million in 2003.

The total volume of grains,, oilseeds and other agricultural commodities handled by Bunge was up slightly during the quarter, rising from 28.9 million metric tons (MT) in 2003 to 29 million MT this year. Fiscal year to date handle now stands at 82.6 million MT, up from 79.7 million in fiscal 2003.

Alberto Weisser, Bunge's Chairman and Chief Executive Officer, stated, "We are optimistic for a solid finish to the year and a strong 2005. A large North American soybean harvest and planting intentions by farmers in South America indicate ample supply.

"Commodity prices have returned to historical average levels, which should stimulate demand. Fertilizer volumes have stabilized at the new higher level established after last year's spectacular growth and the margin outlook continues strong. Increased biodiesel demand due to high petroleum prices and legislation in the EU and U.S. is stimulating vegetable oil demand. These are all positive indicators for 2005."

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