UPDATE 2-Bunge premises raided in Argentina grains tax probe

* AFIP accuses Bunge of evading millions in taxes-source

* Company says allegations false, vows to cooperate

* Gov't has accused several grains exporters of evasion (Updates with new company comment)

BUENOS AIRES, Oct 1 (Reuters) - An Argentine judge ordered raids on Bunge premises on Friday as part of a probe into alleged tax evasion at the local unit of the global grains exporter, a source close to the investigation said.

Argentina's AFIP tax agency accuses Bunge (BG.N) of evading as much as $298 million in income tax from 2007 to 2009, the source told Reuters, asking not be identified because of the ongoing investigation.

"The raid took place at commercial and administrative offices, grains elevators and a port terminal. They were looking for evidence of the alleged evasion," the source said, adding that the raids were ordered by a federal judge.

Bunge, which is among the world's largest agricultural processors and a leading exporter of soy products from the South American country, denied any wrongdoing and pledged to cooperate with local authorities.

"(The allegations) of a multimillion evasion (are) totally and absolutely false," Bunge Argentina said in a statement. "Bunge will make all the necessary, legal presentations to defend its rights and its unblemished business reputation."

Argentina is the world's No. 3 soybean exporter and the top supplier of oil and meal, but the government of President Cristina Fernandez has a tense relationship with the agricultural sector.

Late last month, the head of the tax agency accused four of the country's largest grain exporters of tax evasion during last year.

"Of the top 10 grains exporters in 2009, there are four that didn't pay a single peso of income tax," AFIP President Ricardo Echegaray said in September, without naming the four companies.

Soy is Argentina's No. 1 export earner and Rosario grains exchange sees this year's agricultural exports totaling $24 billion due to a bumper soy and corn harvest. ($1 = 4.0275 Argentine pesos) (Reporting by Helen Popper, Luis Andres Henao and Nicolas Misculin in Buenos Aires and Karl Plume in Chicago)