                                                                      EXHIBIT 1


                                              Contact:  Stewart Lindsay
                                                        Edelman PR Worldwide
                                                        1-212-704-4435


       Bunge Increases Regular Quarterly Cash Dividend to $0.11 per Share


WHITE PLAINS, NY - May 30, 2003 - Bunge Limited (NYSE: BG - News) announced that
its Board of Directors increased its regular quarterly cash dividend to $0.11
per share. The prior regular quarterly cash dividend was $0.10 per share. The
dividend is payable on Friday, August 29, 2003, to shareholders of record on
Friday, August 15, 2003. Bunge Limited had 99,609,117 common shares outstanding
on March 31, 2003.


About Bunge Limited

Bunge Limited (www.bunge.com) is an integrated, global agribusiness and food
company operating in the farm-to-consumer food chain with worldwide distribution
capabilities. Founded in 1818 and headquartered in White Plains, New York, Bunge
has over 25,000 employees and locations in 28 countries. Bunge is the world's
leading oilseed processing company, the largest producer and supplier of
fertilizers to farmers in South America and the world's leading seller of
bottled vegetable oils to consumers.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains both historical and forward-looking statements. All
statements, other than statements of historical fact are, or may be deemed to
be, forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements are not based on
historical facts, but rather reflect our current expectations and projections
about our future results, performance, prospects and opportunities. We have
tried to identify these forward-looking statements by using words including
"may," "will," "expect," "anticipate," "believe," "intend," "estimate" and
"continue" and similar expressions. These forward-looking statements involve
known and unknown risks, uncertainties and other factors that could cause our
actual results, performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these forward-looking statements. The
following important factors, among others, could affect future results, causing
them to differ materially from those expressed in our forward-looking
statements: our ability to complete the acquisition of Cereol and to integrate
Cereol's operations, estimated demand for commodities and other products that we
sell and use in our business; industry conditions, including the cyclicality of
the agribusiness industry; economic and

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political conditions in Brazil and Argentina; and other economic, business,
competitive and/or regulatory factors affecting our business generally. The
forward-looking statements included in this release are made only as of the date
of this release, and except as otherwise required by federal securities law, we
do not have any obligation to publicly update or revise any forward-looking
statements to reflect subsequent events or circumstances.


