White Plains, N.Y.-Bunge Ltd. reported fertilizer EBIT of $393 million for the second quarter ending June 30, up 454 percent from the year-ago $71 million. Six-month EBIT was up 392 percent, to $526 million from $107 million. Bunge cited strong farmer demand and margins. Retail volumes were higher for soybeans and corn, with sales accelerated because of favorable commodity prices and concerns about higher input costs. Bunge said fertilizer fundamentals should remain strong. Actual fertilizer volume sales were off 1 percent during the second quarter, to 3 million mt from the year-ago 3.04 million mt. However, actual net sales were up 124 percent, to $1.78 billion from the year-ago $798 million. Six-month volumes were up 3 percent to 5.67 million mt from 5.5 billion, while sales were up 112 percent to $2.98 billion from $1.4 billion. Bunge-wide, net income was up 347 percent to $751 million ($5.45 per diluted share) on sales of $14.4 billion, up from the year-ago $168 million ($1.30 per share) and $8.3 billion. Six-month net income was up 471 percent to $1 billion ($7.56 per share) on sales of $26.8 billion, up from the year-ago $182 million ($1.35 per share) and $15.6 billion.
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