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.

	June 30,		December 31,
(US$ in millions)	2016		2015
Agribusiness (1)	$	5,000	$	3,533
Edible Oil Products (2)	337		356
Milling Products	176		164
Sugar and Bioenergy (3)	374		350
Fertilizer	79		63

Total	$	5,966	$	4,466

⁽¹⁾

Includes RMI of $4,855 million and $3,393 million at June 30, 2016 and December 31, 2015, respectively. Of these amounts $3,881 million and $2,513 million can be attributable to merchandising activities at June 30, 2016 and December 31, 2015, respectively.

⁽²⁾

Includes RMI of bulk soybean and canola oil in the aggregate amount of $78 million and $110 million at June 30, 2016 and December 31, 2015, respectively.

⁽³⁾

Includes sugar RMI, which can be attributable to Bunge’s trading and merchandising business of $100 million and $163 million at June 30, 2016 and December 31, 2015, respectively.