Bunge Global SA operates as a global agribusiness and food company with integrated operations that stretch from farmer to consumer. The company is a holding company and substantially all of its operations are conducted through its subsidiaries.
The company is a global oilseed processor and producer of vegetable oils and protein meals, based on processing capacity; global grain processor, based on volume; seller of packaged plant-based oils worldwide, based on sales; and producer and seller of w...
Bunge Global SA operates as a global agribusiness and food company with integrated operations that stretch from farmer to consumer. The company is a holding company and substantially all of its operations are conducted through its subsidiaries.
The company is a global oilseed processor and producer of vegetable oils and protein meals, based on processing capacity; global grain processor, based on volume; seller of packaged plant-based oils worldwide, based on sales; and producer and seller of wheat flours, bakery mixes, and corn-based products in North and South America, based on volume.
The company conducts its operations via four reportable segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy, organized based upon their similar economic characteristics, products and services offered, production processes, types and classes of customer, and distribution methods.
Segments
The company further organizes these segments into Core operations and Non-core operations.
Core operations comprise the company’s Agribusiness, Refined and Specialty Oils, and Milling segments.
The company’s Agribusiness segment is an integrated, global business principally involved in the purchase, storage, transportation, processing and sale of agricultural commodities and commodity products. The company’s Agribusiness operations and assets are located in North and South America, Europe, and the Asia-Pacific, and it has merchandising and distribution offices throughout the world.
The Refined and Specialty Oils segment includes businesses that sell vegetable oils and fats, including cooking oils, shortenings, specialty ingredients, and renewable diesel feedstocks. The operations and assets of the company’s Refined and Specialty Oils segment primarily located in North and South America, Europe and the Asia-Pacific.
The Milling segment includes businesses that sell wheat flours, bakery mixes, and corn-based products. The operations and assets of the company’s Milling segment are located in North and South America.
Non-core operations includes the company’s Sugar and Bioenergy segment, which was primarily consists of its previously owned 50% interest in the BP Bunge Bioenergia joint venture. On October 1, 2024, the company completed the sale of its 50% interest in BP Bunge Bioenergia to BP Biofuels Brazil Investment Limited (BP).
Core Segments
Agribusiness segment
Agribusiness segment is an integrated, global business involved in purchasing, storing, transporting, processing, and selling agricultural commodities and commodity products while managing risk across various value chains. The principal agricultural commodities that the company handles in this segment are oilseeds, primarily soybeans, rapeseed, canola, and sunflower seed, and grains, primarily wheat and corn. The company processes oilseeds into vegetable oils and protein meals, principally for the food, animal feed and biofuel industries, through a global network of facilities. The company’s footprint is well balanced, with approximately 31% of its processing capacity located in North America, 27% in South America, 25% in Europe and 17% in the Asia-Pacific.
Customers—The company sells agricultural commodities and processed commodity products to customers throughout the world. The principal purchasers of the company’s oilseeds, grains, and oilseed meal are animal feed manufacturers, livestock producers, wheat and corn millers, and other oilseed processors. As a result, the company’s agribusiness operations generally benefit from global demand for protein, primarily poultry and pork products. The principal purchasers of the unrefined vegetable oils produced in this segment are the company’s own refined and specialty oils businesses, third-party edible oil processors, which use these oils as raw materials in the production of edible oil products for the food service, and the food processor and retail markets, as well as biofuel companies, which use the oil as feedstock for biofuel production.
Distribution and Logistics—The company has developed an extensive global logistics network to transport its products, including trucks, railcars, river barges, and ocean freight vessels. Typically, the company either leases the transportation assets or contract with third parties for these services. To better serve its customer base and develop the company’s global distribution and logistics capabilities, we own or operate either directly or through joint venture arrangements, various port terminal facilities, including in Brazil, Argentina, the United States, Canada, Latvia, Ukraine, France, Poland, Vietnam, and Australia.
Financial Services and Activities—The company offers various financial services, principally trade structured finance and financial risk management services, to customers and other third parties. The company’s trade structured finance operations primarily leverage its international trade flows to generate trade finance derived liquidity in emerging markets for third parties. The company’s financial risk management services include structuring and marketing risk management products to enable agricultural producers and end users of commodities to manage commodity price risk exposures. The company also engages in foreign exchange and other financial instrument trading via its financial services business. Additionally, the company provides financing services to farmers, primarily in Brazil, from whom it purchases soybeans and other agricultural commodities. The company’s farmer financing activities are an integral part of its grain and oilseed origination activities as they help assure the annual supply of raw materials for its Brazilian agribusiness operations.
Biodiesel—The company owns and operates conventional biodiesel facilities in Europe and Brazil and has equity method investments in conventional biodiesel producers in Europe and Argentina. This business is complementary to its core Agribusiness operations as in each case it supplis some of the raw materials (refined or partially refined vegetable oil) used in their production processes.
Competition—Due to their commodity nature, markets for the company’s products are highly competitive and subject to product substitution. Competition is principally based on price, quality, product and service offerings, and geographic location. Major competitors include but are not limited to: Archer Daniels Midland Co. (ADM), Cargill Incorporated (Cargill), Louis Dreyfus Company B.V., Wilmar International Limited (Wilmar), and COFCO International.
Refined and Specialty Oils segment
This segment primarily sells its refined and specialty oil products to food processors, food service companies, renewable diesel producers, and retail outlets. The principal raw materials used in the company’s Refined and Specialty Oils segment are various crude and further processed vegetable oils and fats. These raw materials are mostly agricultural commodities that the company either produces or purchases from third parties.
The company’s global integrated business model enables it to realize synergies among its Agribusiness, Refined and Specialty Oils, and Milling segments through raw material procurement, logistics, risk management and the co-location of industrial facilities, enabling it to supply customers with reliable, high-quality products on a global basis. As many of the products the company sells in its Refined and Specialty Oils segment are staple foods or ingredients, these businesses generally benefit from global population and income growth rates. Additionally, the company businesses that sell vegetable oils as feedstock to the renewable diesel industry generally benefit from increased emphasis on environmental sustainability, including government incentives and mandates aimed at increasing the percentage of fuels stemming from renewable sources, and increased production from the renewable diesel industry.
Products—The company’s refined and specialty oil products include packaged and bulk oils and fats, including cooking oils, shortenings, margarines, renewable diesel feedstocks, and other products derived from the vegetable oil refining process. The company primarily uses soybean, sunflower, rapeseed, and canola oil that it produces in its Agribusiness segment processing operations as raw materials in this business. The company also refines and fractionates palm oil, palm kernel oil, coconut oil, and shea butter, and blend and refine olive oil. Additionally, the company produces specialty ingredients derived from vegetable oils, such as lecithin, which is used as an emulsifier in a broad range of food products. The company is a leading seller of packaged vegetable oils worldwide, based on sales. The company has refined and specialty oils refining and packaging facilities in North America, South America, Europe, Asia-Pacific, and Africa. The company’s refined and specialty oils business comprises its wholly-owned refined oils business in North America, other business to business (B2B) and business to consumer (B2C) refined and specialty oils offerings in South America, Europe and Asia-Pacific, and its 80% ownership interest in its Loders joint venture with IOI Corporation Berhad.
In Brazil, the company’s retail edible oil brands include Soya, the leading consumer packaged vegetable oil brand, as well as Salada. Further, the company is a leading supplier of shortenings to the food processor market.
In the United States and Canada, the company primarily provides product offerings to food processors and food service companies, and it sells refined vegetable oils as feedstock to the renewable diesel industry. Specifically, the company offers food manufacturers, bakeries, confectionaries, and food service operators high-quality solutions to fit their goals, such as delivering desired tastes and textures, or reducing saturated fats in their products. The company’s products include trans-fat free high-oleic canola oil, which is low in saturated fats, and high-oleic soybean oil, which is highly stable and trans-fat free. The company has also developed proprietary fiber addition processes that allow bakery and food processor customers to achieve significant saturated fat reductions in shortenings. The company also produces margarines and buttery spreads, including its leading Country Premium brand, for food service, food processor and retail private label customers.
In Europe, the company is a leader in consumer packaged vegetable oils, which are sold in various geographies under brand names, including Venusz, Floriol, Kujawski, Unisol, Kaliakra, Oleina, Oliwier, Komili and Kirlangic. The company is a leader in margarines, under brand names including Smakowita, Slynne, Maslo Rosline, Masmix, Optima, Finuu, Deli Reform, Keiju, Alentaia, Venusz, Evesol, Carlshamn, Voimix, Eleplant and Beleaf. Additionally, the company produces a variety of products for the confectionery and bakery industries. The company is also an oils supplier in the Western European food service channel.
In Asia, the company offers a range of consumer products and offerings, including bakery, culinary, confectionary, and human nutrition products. In India, the company’s consumer brands include Dalda, Gagan, Fiona and Chambal edible oils; Dalda and Gagan vanaspatis; and Masterline professional bakery fats.
Customers—The company’s customers include baked goods companies, snack food producers, confectioners, restaurant chains, food service operators, human nutrition companies, other food manufacturers who use vegetable oils and shortenings as ingredients in their operations, and renewable diesel producers. Other customers include grocery chains, wholesalers, distributors, and other retailers who sell to consumers either under the company’s own brand names or private labels. These customers include global and national food processors and manufacturers, many of which are leading brand owners in their product categories.
Competition—The company’s principal competitors in the Refined and Specialty Oils segment include, but are not limited to: ADM, AAK AB, Cargill, Fuji Oil Co. Ltd., and Wilmar, as well as local competitors in each region.
Milling segment
This segment primarily sells its milling products to three customer types or market channels: food processors, food service companies, and retail outlets. The principal raw materials used in the company’s milling businesses are wheat, corn, and other agricultural commodities sourced from its Agribusiness segment or directly from third parties. Similar to the company’s refined and specialty oils business, it realizes synergies among its other segments in areas, such as raw material procurement, logistics, risk management, and the co-location of industrial facilities, enabling it to supply customers with reliable, high quality products on a global basis. As many of the products the company sells in its Milling segment are staple foods or ingredients, these businesses generally benefit from macro population and income growth rates. Additionally, the company’s Milling segment is focused on capitalizing on growing global consumer food trends, including a desire for less processed, healthier foods, interest in new flavors, and increases in snacking and eating outside the home.
Products—The company’s Milling segment activities include the production and sale of a variety of wheat flours and bakery mixes in Brazil, as well as corn-based products derived from both the dry and wet corn milling processes in the United States and Mexico.
The company’s brands in Brazil include Suprema, Soberana, Farina, Predileta, and Bem-fácill wheat flours, Pre-Mescla, BTX, and Bem-fácill bakery premixes. The company’s corn milling products primarily consist of dry-milled corn meals and flours, flaking and brewers' grits, soy-fortified corn meal, corn-soy blends, snack grits and meals, and other similar products. As part of its corn portfolio, the company also sells whole grain and fiber ingredients in addition to wet-milled masa flours, some sold under the El Maizal brand in the United States. Additionally, the company offers organic and non-GMO products in the United States, including corn varieties.
Customers—The primary customers for the company’s wheat milling products are food processing, bakery, and food service companies. The primary customers for the company’s corn milling products are companies in the food-processing sector, such as cereal, snack, bakery, brewing, and food service companies; industrial manufacturing companies; and the U.S. Government under its humanitarian assistance programs.
Competition— In Brazil, the company’s major competitors are M. Dias Branco, J. Macedo, Moinho Anaconda, and Grande Moinho Cearense, as well as many small regional producers. The company’s major competitors in North American corn milling include Cargill, Didion Inc., SEMO Milling, LLC, Life Line Foods, LLC, and Gruma S.A.B. de C.V.
Seasonality
In its Agribusiness segment, while there is a degree of seasonality in the growing season and procurement of the company’s principal raw materials, such as oilseeds and grains. The company is geographically diversified between the northern and southern hemispheres, and it sells and distributes products throughout the year. However, the first quarter of the year has generally been the company’s weakest in terms of financial results due to the timing of the North and South American oilseed harvests, as the North American harvest peaks in the third and fourth quarters, and the South American harvest peaks in the second quarter. The company’s North and South American grain merchandising and oilseed processing activities are, therefore, generally at lower levels during the first quarter (year ended December 31, 2024).
Strategy
The company leverages its leadership, extensive knowledge of the industry, and its deeply rooted relationships with customers at both ends of the value chain to address the sustainability challenges facing the food, feed, and fuel supply chains in which it operates. The company intends to address those challenges by, among other things, connecting farmers and its end customers as they seek to establish common approaches to overcome shared sustainability challenges. This means that the decisions the company makes — from strategy to investments to operations — look at the associated GHG impact and how it will shape its long-term climate ambitions.
The company has a proud history of accomplishment that it is building on to realize its approach. For example, Bunge actively engages in supplying low carbon feedstock for renewable fuels, sourcing and supplying grains planted under regenerative agricultural practices, and supplying certified and verified deforestation-free grains and by-products, among other initiatives. These business objectives are a natural extension of the company’s sustainability efforts and have been partly developed by applying a climate lens to its strategic decision-making.
Research and Development
The company’s research and development expenses were $30 million for the year ended December 31, 2024.
History
Bunge Global SA was founded in 1818. The company was incorporated in 1995.
