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Bunge Reports Second Quarter Profit

Venture investment, South America strength brings it back from year-ago loss

Bunge

Bunge Ltd. swung to a profit in the second quarter from a year-ago loss, helped by an unrealized gain from its stake in plant-based burger venture Beyond Meat Inc. and improved results at its South American operations, reports Reuters.

Gains were partly offset by weak export demand due to trade tensions between the United States and China and harsh U.S. weather that disrupted grain processing and transportation and stalled spring planting.

Bunge and its agribusiness peers, including Archer Daniels Midland Co., Cargill Inc. and Louis Dreyfus Co., have been cutting costs and restructuring operations to navigate through a particularly difficult time for the sector.

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