                                                                       Exhibit 1

                                          Contact:   Susie Ter-Jung
                                                     Bunge Limited
                                                     1-914-684-3398
                                                     susieter-jung@bunge.com
                                                     -----------------------


           Bunge Addresses Morgan Stanley Global Consumer Conference,
                       Reaffirms Fourth Quarter Guidance

WHITE PLAINS, NY - November 5, 2003 - Bunge Limited (NYSE: BG) Chairman and CEO
Alberto Weisser and CFO Bill Wells today addressed the Morgan Stanley Global
Consumer Conference in New York City. A replay of the presentation is available
at the Bunge Web site (www.bunge.com).

During the presentation, Mr. Wells reaffirmed Bunge's earnings guidance of $59
million to $69 million, or $0.58 to $0.68 per fully diluted share, for the
fourth quarter, based on 100.9 million fully diluted shares. Mr. Wells noted
that the guidance does not include any non-recurring items in the fourth quarter
of 2003.

To access the replay of the presentation, go to the "News & Information" section
of the Bunge Web site and select the Audio Archive link. Click on the replay
link for the Morgan Stanley Global Consumer Conference. Follow the prompts to
access the presentation.

About Bunge

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 and primary operations in North America, South America and Europe.
Founded in 1818 and headquartered in White Plains, New York, Bunge has 24,000
employees and locations in 29 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 our business and
financial performance: our ability to complete, integrate and benefit from
acquisitions, divestitures, joint ventures and alliances; 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
political conditions in the primary markets where we operate; 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


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have any obligation to publicly update or revise any forward-looking statements
to reflect subsequent events or circumstances.


