SINGAPORE, Oct. 16 /PRNewswire-FirstCall/ -- Bunge Asia, the Asian operating arm of Bunge Limited (NYSE: BG), today announced the acquisition of a 50% stake in the owner/operator of Phu My Port. The investment provides Bunge with greater opportunity to serve customers in the growing market for agricultural commodities in Vietnam.

The transaction involves the acquisition of SSI Logistics, the French subsidiary of France's state-owned SSI/EMC Group. SSI Logistics owns a 50% stake in Baria Serece, the owner/operator of Phu My Port. The port is located on the Thi Vai River, approximately 70 km from Ho Chi Minh City and near a large number of commercial feed mill operations. It is the only commercial dry bulk port in Vietnam capable of receiving large, Panamax-class ships.

In 2004, Bunge secured exclusive access to the port for shipments of agricultural commodities. Acquiring an ownership stake will enable Bunge to invest alongside its partners to expand the operation's capacity and traffic. Plans call for adding new storage facilities and more efficient discharging equipment that should increase capacity significantly in the next several years. Bunge is developing plans to construct a soybean processing plant within the site as well.

Vietnam, with a population of 86 million and rising per capita income, is a fast growing market for soybean meal and other agricultural commodities. Market forecasts call for aggregate volumes of soybean meal, corn and wheat imports to increase by approximately 10% per year over the next five years.

About Bunge

Bunge Limited (www.Bunge.com, NYSE: BG) is a leading global agribusiness and food company founded in 1818 and headquartered in White Plains, New York. Bunge's over 25,000 employees in over 30 countries enhance lives by improving the global agribusiness and food production chain. The company supplies fertilizer to farmers in South America, originates, transports and processes oilseeds, grains and other agricultural commodities worldwide, produces food products for commercial customers and consumers and supplies raw materials and services to the biofuels industry.

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SOURCE Bunge Asia