Bunge posted stronger-than-expected fourth-quarter earnings on Wednesday and said its full-year adjusted profit would top estimates due to strong demand and tight commodity supplies, reports Reuters.
Bunge’s fourth-quarter earnings, propelled by strong oilseed processing margins and robust North American exports, offered the latest look into how the coronavirus pandemic is impacting the world’s largest grain traders.
“Our performance in 2020 was exceptional reflecting the earnings strength of our platform," Greg Heckman, Bunge’s CEO, said in a statement on its website. "We delivered these strong results while completing the portfolio actions we originally identified, sharpening our financial discipline, and, importantly, keeping the focus on protecting the safety of our team during these unprecedented times.
“Looking ahead, we expect the favorable market environment to continue into 2021, reflecting strong and growing demand, as well as tight supplies," he continued. "We are excited about our momentum and the opportunities ahead of us."
