Analysts have been negative on the agri-business processing sector recently, but the stocks have been shedding value for two months and they may have to reconsider. Bunge Ltd. (NYSE: BG) is delivering 42% growth according to Smart Money.

The stock is down 16% from my original post recommending it for 2008 and it is trading down more this morning. However, I have not changed my opinion about the prospects of the company and my original rational has remained solid despite the wild swings in the stock over the past few months.

Last year when I posted Serious Money: ADM, Bunge, Potash Corp. -- it's a hungry world it looked like there was no downside, and even though it is disappointing to see the stock down now, all I can say is the investment opportunity is even better. As they are a leading producer of soy and soy products, how can one resist this level of growth at a P/E of 8, half the market average?

I wish Bunge paid a higher dividend, currently around 0.82%, but there are some solid metrics here like a price-to-sales ratio of 0.04. Like many companies in this soft economy BG seems to be experiencing some margin squeeze given net profit margins of just over 2%.

Perhaps it is the cyclical nature of the business, or perhaps it is the rapid expansion into shrinking economies that have affected the share price with the overall market, but I do not think the long-term prospects for the soy business are suspect. Everything I read indicates that soy is being used in more and more products and Bunge is the largest player on that field.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. DISCLOSURE: I currently do not own shares of BG.