Bunge has sold its international sugar trading operations to Singapore-based agribusiness Wilmar International for an undisclosed amount.
The news follows the release Bunge’s second-quarter financial statement earlier this month, as it recorded a net loss of $21 million.
Reuters has reported that Bunge has been aiming to exit its international sugar trading operations since 2013.
Wilmar said that the deal includes both raw and refined sugar contracts.
The move follows on from a deal earlier this year in which Bunge bought a 70% stake in oils producer IOI Loders Croklaan from IOI Corporation Berhad.
The US-headquartered company said that the acquisition will allow it to diversify its product portfolio, allowing it to supply new products to customers in the food processing, industrial and artisanal bakery, confectionery, human nutrition and food service segments.
In January, Bunge North America purchased Minsa Corporation for $75 million, expanding its corn-milling capabilities to meet growing demand for tortillas, tortilla chips and other corn products.
The company said that the deal will allow it to increase its corn milling capacity and increase production of specialist products such as red and blue corn.
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