[BUNGE LOGO] [GRAPHIC OMITTED]                                         Exhibit 2

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








             Bunge Limited Announces Underwriters Exercise Option to
                       Purchase Additional Common Shares

WHITE PLAINS,  NY - May 27, 2004 - Bunge Limited (NYSE: BG) announced today that
the  underwriters  of its  recent  offering  of  8,500,000  common  shares  have
exercised in full their option to purchase an additional 1,275,000 common shares
to cover  over-allotments.  Including  the  proceeds  from the  exercise  of the
over-allotment  option,  the net  proceeds  of the  offering  to  Bunge  will be
approximately  $330  million.  Bunge  announced  on May 26, 2004 that the common
shares  would be offered  to the  public at a price of $35.20 per share.  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 (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



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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.


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