April 28, 2014

Bunge Ltd. confirms China's soy purchases

Bunge Ltd Chief Executive Officer Soren Schroder informed that poor soy crushing margins in China that have led the Asian importer to default on soy purchases are short-term and should improve in two to three months.

He spoke at a dinner in northern Brazil on Thursday (Apr 24), the night before the inauguration of Bunge's BRL700 million (US$314 million) terminal in Barcarena in Para state.

Raul Padilla, who will take charge of Bunge's Brazilian operations next week, said China had not cancelled any Brazilian soy purchases from the company. Padilla replaces Pedro Parente.