BRAZIL: Hedging protects Bunge’s sugar profits

Published: 08/02/2017, 4:48:50 PM

Bunge's Brazil-based sugar unit stood by expectations of full-year operating profits of US$100 million-US$120 million, citing operational improvements, and forward sales which had protected Bunge from a drop of 25% so far this year in prices, as measured by New York futures, according to Agrimoney.

An improvement in quarterly profits in sugar reflected "production that was hedged at higher prices than last year," said Soren Schroder, the Bunge chief executive.