Agribusiness and food company Bunge Ltd. experienced a steep 50% drop of its second-quarter earnings compared to the figures it posted last year. Completely missing expectations, the company's profits for this period was USD 136 million while it posted a USD 274 million profit in the same quarter last year. The previous year's gains included USD 121 million earned on investments and acquisitions. Chief Executive Soren Schroder said that they "faced some challenges in North America, Europe and Argentina, which suffered from the continued effects of last year's poor oilseed and grain crops."

The drop has prompted Bunge to reevaluate its plans for next year and decrease capital expenditures by $200 million for the remainder of 2013. Projects geared towards improving the company's efficiency and competitiveness in the market will be on top of the list.

Bunge Ltd. is engaged in the oilseed and grain business. Aside from buying, selling, storing, and transporting seed around the world, they also process them for animal feed and oil products.