FERTILIZER

Snapshot

Bunge made some big changes in Fertilizer in 2010. We sold our mines and related production facilities in Brazil, and shifted our operations in that country-our biggest market -to a blending and distribution model. While our Fertilizer segment is smaller overall, it remains a strategic part of our business, with strong commercial and logistics linkages to our agribusiness operations. In Brazil, we operate blending and distribution facilities, as well as a port terminal. In Argentina, we have phosphate and nitrogen production, as well as blending and distribution operations. In Morocco, one of the world's largest suppliers of phosphates, we operate a joint venture with Office Chérifien des Phosphates that produces intermediate phosphate products for export to South America. In the U.S., we are developing a wholesale business that leverages our established agribusiness network and logistics expertise.

Market