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Exhibit 25.1

FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) o

THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)

New York (State of incorporation if not a U.S. national bank)		13-5160382 (I.R.S. employer identification no.)
One Wall Street, New York, N.Y. (Address of principal executive offices)		10286 (Zip code)

Bunge Limited Finance Corp.
(Exact name of obligor as specified in its charter)

Delaware
(State or other jurisdiction of incorporation or organization) 26-002-1554
(I.R.S. employer identification no.)

Bunge Limited
(Exact name of obligor as specified in its charter)

Bermuda (State or other jurisdiction of incorporation or organization)		N/A (I.R.S. employer identification no.)
50 Main Street, White Plains, New York (Address of principal executive offices)		10606 (Zip code)

3³/4% Convertible Notes due 2022
(Title of the indenture securities)

1.     General information. Furnish the following information as to the Trustee:

(a)

Name and address of each examining or supervising authority to which it is subject.

Name		Address
Superintendent of Banks of the State of New York		2 Rector Street, New York, N.Y. 10006, and Albany, N.Y. 12203
Federal Reserve Bank of New York		33 Liberty Plaza, New York, N.Y. 10045
Federal Deposit Insurance Corporation		Washington, D.C. 20429
New York Clearing House Association		New York, New York 10005

(b)

Whether it is authorized to exercise corporate trust powers.

Yes.

2.     Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

        None.

16.   List of Exhibits.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R. 229.10(d).

1.

A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672 and Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637.)



4.

A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 33-31019.)



6.

The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 33-44051.)



7.

A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

1

SIGNATURE

        Pursuant to the requirements of the Act, the Trustee, The Bank of New York, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 1st day of December, 2003.

		THE BANK OF NEW YORK
		By:	/s/  ROBERT A. MASSIMILLO Name: ROBERT A. MASSIMILLO Title: Vice President

2

Exhibit 7

Consolidated Report of Condition of

THE BANK OF NEW YORK

of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,

a member of the Federal Reserve System, at the close of business September 30, 2003, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

			Dollar Amounts In Thousands
ASSETS
Cash and balances due from depository institutions:
	Noninterest-bearing balances and currency and coin		$	3,688.426
	Interest-bearing balances			4,380,259
Securities:
	Held-to-maturity securities			270,396
	Available-for-sale securities			21,509.356
Federal funds sold in domestic offices				1,269,945
Securities purchased under agreements to resell				5,320,737
Loans and lease financing receivables:
	Loans and leases held for sale			629,178
	Loans and leases, net of unearned income			38,241,326
	LESS: Allowance for loan and lease losses			813,502
	Loans and leases, net of unearned income and allowance			37,427,824
Trading Assets				6,323,529
Premises and fixed assets (including capitalized leases)				938,488
Other real estate owned				431
Investments in unconsolidated subsidiaries and associated companies				256,230
Customers' liability to this bank on acceptances outstanding				191,307
Intangible assets
	Goodwill			2,562,478
	Other intangible assets			798,536
Other assets				6,636,012
Total assets			$	92,203,132
LIABILITIES
Deposits:
	In domestic offices		$	35,637,801
	Noninterest-bearing			15,795,823
	Interest-bearing			19,841,978
	In foreign offices, Edge and Agreement subsidiaries, and IBFs			23,759,599
	Noninterest-bearing			599,397
	Interest-bearing			23,160,202
Federal funds purchased in domestic offices				464,907
Securities sold under agreements to repurchase				693,638
Trading liabilities				2,634,445
Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)				11,168,402
Bank's liability on acceptances executed and outstanding				193,690
Subordinated notes and debentures				2,390,000
Other liabilities				6,573,955
Total liabilities			$	83,516,437
Minority interest in consolidated subsidiaries				519,418
EQUITY CAPITAL
Perpetual preferred stock and related surplus				0
Common stock				1,135,284
Surplus				2,057,234
Retained earnings				4,892,597
Accumulated other comprehensive income				82,162
Other equity capital components				0
Total equity capital				8,167,277
Total liabilities minority interest and equity capital			$	92,203,132

        I, Thomas J. Mastro, Senior Vice President and Comptroller of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

        Thomas J. Mastro,
Senior Vice President and Comptroller

        We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.

Thomas A. Renyi
Gerald L. Hassell
Alan R. Griffith Directors

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Statement of Eligibility of Trustee on Form T-1
Consolidated Report of Condition of THE BANK OF NEW YORK of One Wall Street, New York, N.Y. 10286 And Foreign and Domestic Subsidiaries,