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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)		98-0231912 (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 Federal Reserve Bank of New York Federal Deposit Insurance Corporation New York Clearing House Association		2 Rector Street, New York, N.Y. 10006, and Albany, N.Y. 12203 33 Liberty Plaza, New York, N.Y. 10045 Washington, D.C. 20429 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.

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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 29th day of July, 2004.

		THE BANK OF NEW YORK
		By:	/s/  KISHA A. HOLDER
			Name:		Kisha A. Holder
			Title:		Assistant Vice President

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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 March 31, 2004, 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		$	2,589,012
Interest-bearing balances			8,872,373
Securities:
Held-to-maturity securities			1,382,393
Available-for-sale securities			21,582,893
Federal funds sold and securities purchased under agreements to resell
Federal funds sold in domestic offices			792,900
Securities purchased under agreements to resell			932,155
Loans and lease financing receivables:
Loans and leases held for sale			555,415
Loans and leases, net of unearned income			36,884,850
LESS: Allowance for loan and lease losses			628,457
Loans and leases, net of unearned income and allowance			36,256,393
Trading Assets			3,654,160
Premises and fixed assets (including capitalized leases)			929,969
Other real estate owned			319
Investments in unconsolidated subsidiaries and associated companies			247,156
Customers' liability to this bank on acceptances outstanding			215,581
Intangible assets
Goodwill			2,687,623
Other intangible assets			752,283
Other assets			7,905,137
Total assets		$	89,355,762
LIABILITIES
Deposits:
In domestic offices		$	33,940,195
Noninterest-bearing			13,973,047
Interest-bearing			19,967,148
In foreign offices, Edge and Agreement subsidiaries, and IBFs			22,717,175
Noninterest-bearing			447,242
Interest-bearing			22,269,933
Federal funds purchased and securities sold under agreements to repurchase
Federal funds purchased in domestic offices.			442,904
Securities sold under agreements to repurchase			671,802
Trading liabilities			2,452,604
Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)			10,779,148
Bank's liability on acceptances executed and outstanding			217,705
Subordinated notes and debentures			2,390,000
Other liabilities			7,230,967
Total liabilities		$	80,842,500
Minority interest in consolidated subsidiaries			141,523

EQUITY CAPITAL
Perpetual preferred stock and related surplus			0
Common stock			1,135,284
Surplus			2,080,657
Retained earnings			5,021,014
Accumulated other comprehensive income			134,784
Other equity capital components			0
Total equity capital			8,371,739
Total liabilities minority interest and equity capital		$	89,355,762

        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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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,