April 5, 2007

Weak Q1 forecast for Bunge

Bunge Limited announced that it expects first quarter 2007 results to be weaker than the same period last year and below the current analyst consensus estimate, primarily due to lower than expected agribusiness results. Net income for the quarter is expected to be near breakeven.

Bunge reaffirms its net income guidance for the full year ending Dec 31, 2007 of $590 million to $610 million, which represents $4.56 to $4.71 per share. This includes an estimated $30 million, or $0.23 per share, related to a gain on sale of assets.

Alberto Weisser, Chairman and Chief Executive Officer, stated: "During the first quarter the value of the physical cash commodity markets did not mirror the increase in value in the futures markets, which we use to hedge our commodity inventories and forward purchases. This resulted in unrealised mark- to-market losses.

"Earnings can shift among quarters in our industry, so we view our business on an annual basis. Market fundamentals are solid, and we expect to achieve our forecasted full year results."