American agribusiness and food company Bunge has reported that its net income for the third quarter of 2012 rose 112%to$297m,compared to$140m the previous year,due to good performance of its agribusiness division.
Net sales totalled$17.29bn,up 11%from$15.62bn a year ago.
Bunge chairman and chief executive officer Alberto Weisser said that the agribusiness operations posted good results,while food&ingredients and fertilizer showed improved performance from the challenging first half of the year.
"Results in Sugar&Bioenergy on a comparable basis were higher than last year,but below the potential of this business,"Weisser added.
In the agribusiness unit,higher oilseed processing results were driven by North America,South America Europe and Asia.The grain merchandising operations benefited from the combination of strong export demand and large South American grain supplies.
The sugar and bioenergy division was hit by declining sales due to port congestion and lower sugar content of harvested cane.This resulted in reduced production volumes and higher unit costs.
In addition,the company experienced improved results across its remaining divisions which include edible oil products,milling products,and fertilizer.
