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  "documentTitle": "Bunge Global SA (BG)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2026-03-25 00:00:00",
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  "notes": "Uses a table to compare R&D spending/margins against peers and highlights the shift in language in 10-K filings.",
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      "text": "Spruce Point believes that Bunge is deflecting growing strain and a lack of competitiveness with its core customers in the baked goods, snack food, confectionery, food service, nutrition, and restaurant chain businesses.",
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      "text": "Given the nature of our business, our research and development activities are very minimal and focused on developing products and improving processes that will drive growth or otherwise add value to our core business operations and create value for our customers. — Bunge 2025 10-K",
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