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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.

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 27th day of February, 2004.

		THE BANK OF NEW YORK
		By:	/s/ VAN K. BROWN Name: VAN K. BROWN Title: VICE PRESIDENT

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 December 31, 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	$	3,752,987
	Interest-bearing balances		7,153,561
Securities:
	Held-to-maturity securities		260,388
	Available-for-sale securities		21,587,862
Federal funds sold and securities purchased under agreements to resell
	Federal funds sold in domestic offices		165,000
	Securities purchased under agreements to resell		2,804,315
Loans and lease financing receivables:
	Loans and leases held for sale		557,358
	Loans and leases, net of unearned income		36,255,119
	LESS: Allowance for loan and lease losses		664,233
	Loans and leases, net of unearned income and allowance		35,590,886
Trading Assets			4,892,480
Premises and fixed assets (including capitalized leases)			926,789
Other real estate owned			409
Investments in unconsolidated subsidiaries and associated companies			277,788
Customers' liability to this bank on acceptances outstanding			144,025
Intangible assets
	Goodwill		2,635,322
	Other intangible assets		781,009
	Other assets		7,727,722

	Total assets	$	89,257,901

LIABILITIES
Deposits:
	In domestic offices	$	33,763,250
	Noninterest-bearing		14,511,050
	Interest-bearing		19,252,200
	In foreign offices, Edge and Agreement subsidiaries, and IBFs		22,980,400
	Noninterest-bearing		341,376
	Interest-bearing		22,639,024
Federal funds purchased and securities sold under agreements to repurchase
	Federal funds purchased in domestic offices		545,681
	Securities sold under agreements to repurchase		695,658
Trading liabilities			2,338,897
Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)			11,078,363
Bank's liability on acceptances executed and outstanding			145,615
Subordinated notes and debentures			2,408,665
Other liabilities			6,441,088

Total liabilities		$	80,397,617

Minority interest in consolidated subsidiaries			640,126
EQUITY CAPITAL
Perpetual preferred stock and related surplus			0
Common stock			1,135,284
Surplus			2,077,255
Retained earnings			4,955,319
Accumulated other comprehensive income			52,300
Other equity capital components			0

Total equity capital			8,220,158

Total liabilities minority interest and equity capital		$	89,257,901

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				Directors
Alan R. Griffith

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SIGNATURE
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 December 31, 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.