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Tag: Bunge

Canadian pension funds endorse US$25bln Viterra-Bunge merger as Viterra supports hunger project in Canada 

CANADA- Two pension funds, Canada Pension Plan Investment Board and British Columbia Investment Management Corp, have declared their support of the potential Viterra-Bunge merger, according to people with direct knowledge of the matter, Bloomberg reported. The possible merger would create a US$25 billion behemoth that will be one of the largest global commodity traders.  According to the anonymous source, these…

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Global grain traders Viterra and Bunge consider  possible merger 

USA – Glencore-owned global grain trader Viterra is in talks concerning a possible merger with U.S. rival Bunge Ltd- a strategic move that will potentially form one of the most formidable international grain merchants, Reuters reported, quoting people familiar with the matter.  These talks come a while after Glencore had publicly said it was reviewing options for its interest in…

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Bunge’s earnings shrunk by 8.2% in the first quarter (Q1) of 2023

USA – Bunge, one of the world’s largest agricultural commodities suppliers has announced that its first-quarter earnings fell short of last year’s record results to register US$632 million, down 8.2% from US$688 million in the first quarter of fiscal 2022, World Grain has reported. According to the company, the results were dragged down partly by sluggish oilseed processing results in…

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Bunge to launch a program to boost regenerative agriculture in Brazil

BRAZIL- Bunge Ltd. will soon launch a regenerative agriculture program to support rural producers in Brazil in their transition to low-carbon agriculture, in line with its sustainability agenda.  Bunge, one of the largest commodity traders, will provide these rural producers with technical support, tools, products, and services as part of its global efforts to curb greenhouse gas (GHG) emissions.  Bunge…

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Bunge ends 3-year contract with Sao Francisco do Sul port authority, making room for rivals

BRAZIL- Bunge port agent, Litoral, recently ended its contract with Brazilian Sao Francisco do Sul port authority, where it had rights to ship an estimated 1.4 million tonnes of grains per year from April 2021 to April 2023.  According to official documents and court filings, an extension of the said contract is unlikely, and the end of the contract makes…

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Bunge to acquire new Louisiana oil refinery from Fuji Oil 

USA- Through its Bunge Loders Croklaan joint venture with IOI Corporation Berhad, Bunge Ltd. will acquire a newly constructed, port-based refinery from Fuji Oil New Orleans, LLC in IMTT’s (International-Matex Tank Terminals) Avondale Terminal, Louisiana. Bunge Loders Croklaan buys soft seed and tropical oils, such as palm, coconut, and shea, and sources plant-based oils, transforming and refining them.  The agri-giant…

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Bunge board to appoint Mark Zenuk non-executive chair

USA- The Bunge Ltd. board of directors plans to have Mark Zenuk as its non-executive chairperson subject to his re-election to the board during the 2023 annual general meeting of shareholders in May.  Zenuk is a managing partner at Tillridge Global Agribusiness Partners since 2016 and a Bunge board director since 2018.  Before Tillridge, he was a managing director at…

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Corteva and Bunge partner to enhance protein in soybean meal for feed production, join Chevron in canola collaboration

USA- Leading crop protection company, Corteva Inc, and Bunge, a global commodity trader, have partnered to sustainably enhance amino acids in soybean meal for the feed industry, especially for poultry, swine, and aqua feed. This multi-year partnership will allow the companies to develop and commercialize soybean varieties that enable feed manufacturers to use fewer synthetic additives. These varieties will also…

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Bunge credits bumper harvest, strong meal and oil demand for outstanding full-year performance

USA- Bunge, one of the world’s largest agricultural commodities suppliers, has credited large soy and canola crops in North America and robust meal and oil demand for outstanding performance in 2022. The demand for soy and other meat alternatives has been soaring globally in response to the shift in dietary habits for health reasons and increased awareness and concern for…

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Strong soy crush margins, global demand boost Bunger’s Bunge Q4 profits

USA – Agricultural commodities trader, Bunge Ltd recently reported its fourth-quarter profit, recording adjusted earnings of US$3.24 per share against the predicted US$3.22 per share, according to data from Refinitiv. The net sales totaled US$16.66 billion in the fourth quarter, compared with US$16.68 billion a year earlier. The Chesterfield, Missouri-based company attributed its higher-than-expected profit to robust soy crushing margins…

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