Bunge Ltd. reported a profit of US$63 million in the first quarter, compared with a loss of US$195 million in the prior-year quarter.

The parent of St. Louis-based Bunge North America reported sales of US$10.3 billion for the quarter ended March 31, up 12% from US$9.2 billion a year earlier.

"Bunge's first quarter improved significantly from where we were this time last year," chairman and chief executive Alberto Weisser said in a statement.

St. Louis-based Bunge North America, led by CEO Soren Schroder, is a food and feed ingredient company that operates grain elevators, grain and oilseed processing plants, refineries and food processing facilities in the US, Canada and Mexico. It is the North American operating arm of White Plains, N.Y.-based Bunge Ltd., a global agricultural product and food company.