** Shares of agribusiness company Bunge BG.N fall ~1% $122.88

** Spruce Point Capital Management discloses short position against BG and calls for an independent investigation into the accuracy of its financial reporting and accounting

** Says co "has demonstrated an inability to deliver value to shareholders absent external financing"; estimates a 55% to 80% potential downside and material market underperformance risk

** "Bunge also says nothing about the growing impact of GLP-1 weight loss drugs in its SEC filings or conference calls, but with customers in the food products industry, we believe it is likely feeling the effects," Spruce Point adds

** BG's acquisition of Viterra was "borne out of necessity to deflect from its core challenges and a transaction, and we believe that it has wildly disappointed" - Spruce Point

** Reuters could not independently verify the short seller's claims

** As of last close, BG up 38% YTD

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))