BARCARENA, Brazil, April 25 (Reuters) - Poor soy crushing margins in China that have led the Asian importer to default on soy purchases are short-term and should improve in two to three months, Bunge Ltd Chief Executive Officer Soren Schroder said.
He spoke at a dinner in northern Brazil on Thursday, the night before the inauguration of Bunge’s 700 million reais ($314 million) terminal in Barcarena in Para state.
Raul Padilla, who will take charge of Bunge’s Brazilian operations next week, said China had not canceled any Brazilian soybean purchases from the company. Padilla replaces Pedro Parente.
$1 = 2.2277 reais Reporting by Gustavo Bonato; Writing by Caroline Stauffer; Editing by Lisa Von Ahn