Bunge posts quarterly loss on some soy crushing contracts

Aug 1 – Global grains merchant Bunge Ltd on Wednesday reported a loss compared with a year-earlier profit as it took a $125 million hit on its agribusiness on soy crushing contracts.

Bunge, which was subject of a failed takeover approach by rival ADM, said net loss available to shareholders was $21 million, or 15 cents per share, in the second quarter ended June 30, compared with a profit $72 million, or 51 cents per share, a year earlier.

The White Plains, New York-based company said net sales rose to $12.15 billion from $11.65 billion. (Reporting by Anirban Paul in Bengaluru; Editing by Anil D’Silva)

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