v3.4.0.3
INVENTORIES
 3 Months Ended
Mar. 31, 2016
INVENTORIES  
INVENTORIES

5.INVENTORIES

 

Inventories by segment are presented below. Readily marketable inventories (“RMI”) are agricultural commodity inventories carried at fair value, which are non-perishable with a high shelf life and exceptionally liquid due to their homogenous nature and widely available markets with international pricing mechanisms.  All other inventories are carried at lower of cost or market.

 

 

 

March 31,

 

December 31,

 

(US$ in millions)

 

2016

 

2015

 

Agribusiness (1)

 

$
3,914 

 

$
3,533 

 

Edible Oil Products (2)

 
347 

 
356 

 

Milling Products

 
177 

 
164 

 

Sugar and Bioenergy (3)

 
305 

 
350 

 

Fertilizer

 
64 

 
63 

 

 

 

 

 

 

 

Total

 

$
4,807 

 

$
4,466 

 

 

 

 

 

 

 

 

 

 

 

(1)

Includes RMI of $3,769 million and $3,393 million at March 31, 2016 and December 31, 2015, respectively.  Of these amounts $2,877 million and $2,513 million can be attributable to merchandising activities at March 31, 2016 and December 31, 2015, respectively.

 

(2)

Includes RMI of bulk soybean and canola oil in the aggregate amount of $108 million and $110 million at March 31, 2016 and December 31, 2015, respectively.

 

(3)

Includes sugar RMI, which can be attributable to Bunge’s trading and merchandising business of $80 million and $163 million at March 31, 2016 and December 31, 2015, respectively.