Bunge Chief Executive Soren Schroder to step down, appoints new board chair

USA – Agriculture, food and ingredients giant, Bunge Ltd has announced that its Chief Executive Officer Soren Schroder will step down and has commissioned a searching process for the new CEO. The company said Schroder will continue in his current role until a successor is named. Aged 57, the outgoing CEO joined Bunge in 2000…

Bunge names Robert Coviello new executive VP and chief strategy officer

USA – Bunge Ltd has appointed Robert Coviello as the company’s new executive vice-president and chief growth and strategy officer effective Jan. 1, 2019. Coviello will report to Soren Schroder, chief executive officer (CEO) at Bunge Ltd. He will drive the development of Bunge’s strategic plans, working alongside the executive committee to evaluate strategic alternatives…

Bunge’s joint venture EGT acquires a grain elevator near Sidney

USA - EGT, LLC, a joint venture between Bunge North America and ITOCHU, announced that it has purchased a grain elevator in Sidney, Montana from Busch Agricultural Resources, LLC, a division of A-B InBev, N.V. for an undisclosed amount. According to EGT, the Sidney elevator has access to the Burlington Northern Sante Fe railroad which…

Bunge adds lentil functional flour to portfolio of clean label ingredients

USA – Bunge Ltd.’s North American operating arm, Bunge North America has introduced pulse based, lentil functional flour to its portfolio of clean label ingredients. The new product is said to be rich in protein, can act as a substitute for modified starches and provides a range of nutritional benefits. Made with non-GMO lentils, water…

Bunge posts strong earnings in grains, soybean crush in the third quarter

USA – The American agribusiness company, Bunge Limited has reported US$365 million in net income for the quarter ended September 30 reflecting strong earnings in grains and soybean crush. Net income for the first nine months of the year was US$332m, up from US$220m while in 2017, the company posted net income of US$92 million…

ADM, Bunge, Cargill and Louis Dreyfus partner to put grain trade on blockchain

USA – World’s largest agribusiness companies Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated and Louis Dreyfus Company are looking for a platform to increase transparency and efficiency in global grain trading using blockchain technology. The companies referred to as the ABCDs of global grain trading, are investigating ways to standardize and digitize global agricultural…

Bunge and Hakan places bids to supply 155,000tons of wheat worth US$49.5m

ETHIOPIA - Bunge SA and Hakan Agro DMCC have placed offers to supply the government of Ethiopia wheat worth US$49.50 million amidst shortages of the commodity in the market. The Herald reports the two were the only among 12 companies who bought bid documents after expressing interest in supplying the commodity meant for both government’s…

Bunge’s Agribusiness president Brian Thomsen to retire

USA - The American agribusiness and food company, Bunge Ltd has announced that Brian Thomsen, president Agribusiness unit, is retiring and plans to remain with the company through the end of the year for a smooth transition. Thomsen joined the company in 2004, and has led Bunge’s Agribusiness segment since May 2014, having previously served…

Bunge appoints Mark Zenuk to its Board of Directors

USA - Bunge Limited, the American agribusiness and food company has appointed Mark Zenuk, former managing partner of Tillridge Global Agribusiness Partners to its Board of Directors effective July 17. Prior to his appointment at Tillridge in 2016, Zenuk was managing director at NGP Energy Capital Management, where he led NGP’s agribusiness investment platform from…

Corbion completes acquisition of Bunge’s stake in SB Renewable Oils JV

USA - The Dutch food and biochemical company Corbion N.V has announced it has completed the acquisition of Bunge’s stake in the Orindiúva, Brazil based SB Renewable Oils JV. This involves a 49.9% stake held by Bunge in the joint venture which specialises in the production of algae ingredients, such as Omega 3 rich oil,…