EXHIBIT 99.1
[BUNGE LOGO]

                                       Media           Stewart Lindsay
                                       Contact:        Bunge Limited
                                                       1-914-684-3369
                                                       Stewart.Lindsay@Bunge.com


                Bunge Announces European Biodiesel Joint Venture

White Plains, NY - October 4, 2005 - Bunge Limited (NYSE: BG) announced that its
European subsidiary, KBBV, and Diester Industrie received approval from the
European Commission to create a joint venture specializing in the production and
marketing of biodiesel (vegetable oil methyl ester). The new company will be
called Diester Industrie International (DII).

DII will group together Bunge and Diester Industrie's biodiesel assets in
Europe, except those in France. Diester Industrie will own 60 percent of the
joint venture and Bunge 40 percent.

DII will develop its activities in Europe within the framework of the EU
directive promoting biofuel use. This directive defines biofuel incorporation
rates and fiscal support measures for the EU. DII will initially produce
biofuels in Marl, Germany; Bruck, Austria; and Livorno, Italy. Total production
capacity is expected to reach more than 430,000 tons. Bunge's European oilseed
processing operations will supply a significant portion of the vegetable oil
used by DII to create biodiesel.

"The creation of this joint venture is a step ahead to better meet the growing
needs of biofuels in Europe," said Jean-Louis Gourbin, CEO, Bunge Europe. "In
addition, it will better allow Bunge to supply vegetable oil for both food and
non-food uses, for the benefit of all of our customers."

Diester Industrie is a subsidiary of Sofiproteol, a French group operating in
the oilseed sector.

About Bunge Limited

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 25,000 employees and
locations in 32 countries. Bunge is the world's leading oilseed processor, 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 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements are not based on

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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,"
"continue" and similar expressions. These forward-looking statements are subject
to a number of risks, uncertainties and other factors that could cause our
actual results, performance, prospects or opportunities, as well as those of the
markets we serve or intend to serve, 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 strategic alliances; estimated demand for the commodities and
other products that we sell and use in our business; industry conditions,
including the cyclicality of the agribusiness industry and unpredictability of
the weather; agricultural, 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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