Bunge Ltd at Consumer Analyst Group of New York Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Rob Moskow - Credit Suisse - Analyst : I think there's a question over there. Unidentified Audience Member Thank you. A question is on crush margins. And my memory of your business may not be correct, but I recall there was a time some years ago, you and your competitors said that the oilseed businesses had consolidated sufficiently to where there should be more predictability in crush margins. Crop prices will go up and down, but the margins would be steadier, not including hedges, than they had been for the history of the world. I don't think we're seeing that. Are we not sufficiently consolidated? Was the theory wrong? Does just sort of one outlier change it for everybody? Do you not agree with anything I just said? Maybe help me understand it.

Question: Rob Moskow - Credit Suisse - Analyst : Okay. [Evan], you want one last question? Unidentified Audience Member Thank you. This is, I guess, just following on Ken's question earlier. You have that $8.50 EPS target, and I guess when you finished last year, it suggests a CAGR I guess north of 20%. If you look over the last few quarters, earnings have been pretty volatile. There's been more negative surprises certainly relative to our expectations, despite a good operating environment. So, I guess the first question is, one, how do investors get confidence that you can hit that $8.50 number? And then, the second question is can you talk a little bit about some of the metrics by which senior management is compensated?