Adds particulars from earnings, background
Adds particulars from earnings, background
Oct 30 (Reuters) – Agricultural commodities dealer Bunge Ltd BG.N reported a better-than-expected quarterly revenue on Wednesday, pushed by greater margins on its edible oil merchandise.
The corporate stated the improved efficiency within the phase was totally on account of higher ends in North America and Brazil due to a greater supply-demand stability for soy oil.
Bunge’s operations in Brazil and Argentina make it higher positioned than many rivals, as its South American operations defend it from the continued US-China commerce conflict. The corporate can be streamlining its operations and chopping prices as a part of its restructuring program.
Bunge had initiated price cuts in 2017 and expects to realize run-rate financial savings of $250 million by the tip of 2019.
Nevertheless, the corporate took a $1.7 billion cost associated to its Brazilian sugarcane milling enterprise.
Bunge…