<DOCUMENT>
<TYPE>EX-11
<SEQUENCE>3
<FILENAME>c64480ex11.txt
<DESCRIPTION>STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
<TEXT>
<PAGE>   1

                                   EXHIBIT 11

                               EARNINGS PER SHARE

                        CORN PRODUCTS INTERNATIONAL, INC.
                            COMPUTATION OF NET INCOME
                           PER SHARE OF CAPITAL STOCK


<Table>
<Caption>
(ALL FIGURES ARE IN MILLIONS EXCEPT PER SHARE DATA)     THREE MONTHS ENDED        SIX MONTHS ENDED
                                                          JUNE 30, 2001            JUNE 30, 2001
                                                        ------------------        ----------------
<S>                                                     <C>                       <C>
Average shares outstanding - Basic                            35.3                      35.3

Effect of dilutive securities:
    Stock options                                              0.1                       0.1
                                                             -----                     -----
Average shares outstanding - Assuming dilution                35.4                      35.4
                                                             =====                     =====

Net income                                                   $15.3                     $27.9

Earnings per share
    Basic                                                    $0.43                     $0.79
    Dilutive                                                 $0.43                     $0.79

</Table>


                                     10Q-18

</TEXT>
</DOCUMENT>