partnering for the future ramallo, buenos aires, argentina port terminals accentuates this advantage. In 2004, Bunge began construction on a high-volume export  terminal and storage facility in the town of Ramallo. The facility  will handle grains, soybean meal and soybean oil from the  underserved Buenos Aires province. Although Buenos Aires  produces 35 percent of Argentina’s agricultural output, only fi ve  percent is loaded there. The addition of Bunge’s Ramallo facility  will improve the effi ciency of our agribusiness operations, boost  the province’s export capabilities and provide economic benefi ts  to Ramallo itself, a town of only 10,000 residents. on ALL trains for the next two decades. ALL will leverage  these volume commitments to acquire new rolling stock. By  2010, ALL trains will carry more than 13 million tons  of Bunge products, up from around five million in 2004. The results are lower costs and improved reliability for Bunge,  farmers and customers, as well as a better rail network for  southern Brazil. Ports are also key. This is especially true in Argentina, which  exports more than 90 percent of its soy products. Because its  agricultural production areas are close to major waterways,  the country is a natural exporter. The addition of large, effi cient  13