                                                                       Exhibit 1

Bunge Limited Announces Pricing of Offering of Common Shares


WHITE PLAINS, N.Y., May 26, 2004 -- Bunge Limited (NYSE: BG - News) announced
today the pricing of its offering of 8,500,000 of its common shares at a price
to the public of $35.20 per share. All shares are being offered by Bunge. The
net proceeds of the offering to Bunge will be approximately $287 million. In
addition, the underwriters have been granted an option to purchase a maximum of
1,275,000 additional shares to cover over-allotments, if any. Credit Suisse
First Boston and Morgan Stanley acted as joint lead managers for the offering.

Bunge intends to use approximately $283 million of the proceeds from this
offering to buy back the minority interest in Bunge Brasil S.A., its publicly
traded Brazilian subsidiary, pursuant to a previously announced tender offer in
Brazil. The remaining net proceeds from the offering will be used for general
corporate purposes, including acquisitions, capital expenditures and working
capital purposes.

This press release shall not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of these common shares in any
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.

This offering of the shares of common stock may be made only by means of a
prospectus, copies of which can be obtained from Credit Suisse First Boston,
Prospectus Department, One Madison Avenue, New York, New York 10010 (telephone:
212-325-2580) or by faxing requests to 212-325-8057.

About Bunge

Bunge Limited (http://www.bunge.com) is an integrated, global agribusiness and
food company operating in the farm-to-consumer food chain. Founded in 1818 and
headquartered in White Plains, New York, Bunge has 23,000 employees and
locations in 30 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 have any obligation to publicly update or revise any
forward- looking statements to reflect subsequent events or circumstances.


