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  "docSlug": "c0127171790f",
  "documentTitle": "Bunge Global SA (BG)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2026-03-25 00:00:00",
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  "notes": "Uses a table to highlight the contrast between peer commentary and Bunge's lack of disclosure.",
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      "kind": "callout",
      "text": "While Bunge is uncharacteristically silent on the topic of GLP-1 in food ingredients, each of Ingredion, Tate & Lyle and International Flavors & Fragrances (IFF) are all admitting it is impacting the way consumers eat.",
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      "kind": "paragraph",
      "text": "While Bunge is uncharacteristically silent on the topic of GLP-1 in food ingredients, each of Ingredion, Tate & Lyle and International Flavors & Fragrances (IFF) are all admitting it is impacting the way consumers eat.",
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      "kind": "quote",
      "text": "\"Well, I mean, I think everybody is waiting to see what the -- trying to get some quantification around what they think the impact will be. It's no doubt, having some sort of an impact.\" — Ingredion (Feb 3, 2026); \"On GLP-1, no doubt it's changing the way people eat. And as we talked about in our capital markets event a couple of months ago, we see that as an opportunity for reformulation over time because of the need to provide more nutritionally balanced and dense food for those on GLP-1 that need to provide healthy alternatives when they come off the drug.\" — Tate & Lyle (Oct 1, 2025); \"One is GLP-1. I know there's been a lot of talk about it. We believe that GLP-1 is and will be the most powerful force impacting food and beverage consumption, not only in the U.S. but around the world.\" — IFF (Feb 19, 2026)",
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      "kind": "source-note",
      "text": "Source: Company public statements.",
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      "text": "Recent Executive Comments On GLP-1 Impact",
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      "kind": "title",
      "text": "Food Ingredient Peers Are All Sounding The Alarm About GLP-1....",
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