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.

	September 30,		December 31,
(US$ in millions)	2016		2015
Agribusiness (1)	$	3,981	$	3,533
Edible Oil Products (2)	354		356
Milling Products	191		164
Sugar and Bioenergy (3)	569		350
Fertilizer	78		63

Total	$	5,173	$	4,466

⁽¹⁾

Includes RMI of $3,865 million and $3,393 million at September 30, 2016 and December 31, 2015, respectively. Of these amounts $2,920 million and $2,513 million can be attributable to merchandising activities at September 30, 2016 and December 31, 2015, respectively.

⁽²⁾

Includes RMI of bulk soybean and canola oil in the aggregate amount of $89 million and $110 million at September 30, 2016 and December 31, 2015, respectively.

⁽³⁾

Includes sugar RMI, which can be attributable to Bunge’s trading and merchandising business of $267 million and $163 million at September 30, 2016 and December 31, 2015, respectively.