Bunge Q3 Net Income Drops

NEW YORK - Oct 27/05 - SNS -- Bunge Limited reported net income of U.S. $170 million on sales of $6,226 million during the third quarter ending September 30, compared to a net of $182 million on sales of $6,560 million during the same three month period last year.

This lifted net income for the first nine months of the current fiscal year to $381 million on sales of $17,549 million, compared to a net of $364 million on sales of $18,956 million during the same period last year.

Alberto Weisser, Bunge's Chairman and Chief Executive Officer stated: "This quarter Bunge faced some significant challenges, particularly in Brazil. We believe these challenges are temporary and that the fundamentals in Brazil remain good. On a global level, market conditions are solid.

"Throughout the year, Brazilian farm economics have been pressured by drought conditions, an appreciating Brazilian real and lower soybean prices due to large U.S. harvests. As a result, farmers have withheld crop sales. This has reduced volumes and affected margins in our agribusiness operations," Weisser said.

Subscribers can read the full text of the article by Clicking here