BG · CIK 1996862
What Bunge Global SA told the SEC could break it.
Bunge's disclosures center on agricultural commodities and the trade and credit dynamics around them. Its processing and merchandising results turn on commodity prices — it carries a daily net position of inventory, forward contracts, and derivatives marked to market and monitored by value-at-risk, with soybeans and soy products its largest inputs and outputs. International trade disputes, especially U.S.-China tariffs and retaliation on agricultural goods, drive price volatility and reroute trade flows and planting patterns between the U.S. and South America, while its origination model — advancing capital and financing to farmers, particularly in Brazil — exposes it to credit risk if those farmers can't repay.
3 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Commodity & input dependence
- agricultural commodity price exposure (soybean, soybean meal/oil, grains, vegetable/tropical oils)high
Bunge's processing/merchandising results turn on agricultural commodity prices — it holds a daily net agricultural commodity position (inventory, forward contracts, derivatives) valued at market, monitored via 95% VaR, where a hypothetical 10% adverse price move is a measured loss; soybean and soy products are its largest input/output.
“Our daily net agricultural commodity position consists of inventory, forward purchase and sale contracts, and OTC and exchange-traded derivative instruments, including those used to hedge portions of our production requirements. The fair value of that position is a summation of the fair values of each agricultural commodity, calculated by valuing all of our commodity positions for the period at quoted market prices, where available, or by utilizing a close proxy.”
SEC filing →As of 2026
Regulatory & policy
- US-China agricultural trade disputes and retaliatory tariffshigh
International trade disputes — particularly US-China tariffs on agricultural products and retaliatory measures — disrupt agricultural commodity trade flows, drive commodity-price volatility and shift planting patterns between the US and South America, presenting ongoing challenges for Bunge's origination and merchandising.
“An implementation of tariffs or additional tariffs on imports of U.S. agricultural products into China could result in the reinstatement or escalation of retaliatory tariffs on U.S. agricultural products by China. This has in the past led, and can in the future lead, to significant volatility in commodity prices, disruptions in historical trade flows and shifts in planting patterns in the United States and South America, which have presented challenges and uncertainties for our business.”
Other disclosures
- farmer-financing credit/counterparty risk (capital advances to Brazil farmers)medium
To secure raw-material supply, Bunge advances capital and provides financing to farmers — particularly in Brazil — as an integral part of its grain/oilseed origination; if those farmers cannot repay, Bunge's financial condition and cash flows could be materially harmed.
“In particular, we advance capital and provide other financing arrangements to farmers in Brazil and, as a result, our business and financial results may be adversely affected if these farmers are unable to repay the capital advanced to them.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
Aceitera General Deheza S.A. (AGD)
“("CAIASA") 33 % Joint venture with Louis Dreyfus Company B.V. and Aceitera General Deheza S.A. ("AGD") to operate an oilseed processing facility in Paraguay.”
Cited →Repsol SA
“On March 4, 2025, we completed the divestment of 40% of our Spanish operating subsidiary, Bunge Iberica SA ("BISA"), which operates three industrial facilities in Spain, to Repsol SA.”
Cited →Louis Dreyfus Company B.V.
“("CAIASA") 33 % Joint venture with Louis Dreyfus Company B.V. and Aceitera General Deheza S.A. ("AGD") to operate an oilseed processing facility in Paraguay.”
Cited →IOI Corporation Berhad
“Our other oilseeds processing and refining business comprises our business to business ("B2B") and business to consumer ("B2C") refined and specialty oils offerings, including our 80% ownership interest in our Loders joint venture with IOI Corporation Berhad.”
Cited →
In the MyPRIA app, this is checked against the companies you actually own.
← World Watch