May 6, 2020 / 10:11 AM / a month ago

Bunge reports first-quarter loss as agribusiness takes a hit

May 6 (Reuters) - Agricultural commodities trader Bunge Ltd reported a quarterly loss on Wednesday compared with a year-ago profit, impacted by a $385 million charge in its agribusiness segment. The company reported a net loss of $207 million in the first quarter ended March 31, compared with a profit of $37 million a year earlier.

Bunge’s agribusiness unit is involved in the purchase, processing and sale of agricultural commodities like oilseeds and grains. About 33% of the grain merchant’s processing capacity is located in South America. (Reporting by Shradha Singh in Bengaluru; Editing by Ramakrishnan M.)

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