US-based agribusiness and food group Bunge has endured a slump in first-quarter profits, the company announced today (26 April).
Go deeper with GlobalData
Bunge saw operating profit tumble to US$19m during the first three months of the year, down from $54m a year earlier.
Chairman and CEO Alberto Weisser blamed “unrealized mark-to- market losses” on hedged commodity inventories and forward purchases in South America.
Net sales, however, jumped 46% to $8.2bn and Weisser remained upbeat about the year ahead. “Crops are large and world demand for protein meal and vegetable oil is good; these conditions should benefit our operations worldwide,” he said.
Bunge, based in New York, produces food products for commercial customers and consumers and supplies raw materials and services to the biofuels industry.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
