MUSCAT: Oman has taken a significant step in strengthening its global food security and expanding its agricultural commodities footprint with the acquisition of a controlling interest in Agribrasil, a leading Brazilian grain exporter, by ME Solaris Commodities Holding (Solaris) — a company majority-owned by the Sultanate of Oman’s sovereign wealth fund.

The agreement, signed on July 28, 2025, includes the acquisition of a controlling stake in Humberg Agribrasil Comércio e Exportação de Grãos SA (Agribrasil) and the Santa Catarina grain terminal (TESC).

Solaris also entered into separate agreements to acquire additional minority interests in TESC. The deal, which is pending regulatory approval, is expected to close by the end of this year.

In an official announcement by Agribrasil, the company described Solaris as one of the world’s top five wheat traders and a key player in the global agricultural commodities market. It said the investment would allow Solaris to enter the Brazilian corn and soybean markets, gain strategic access to port logistics infrastructure, and diversify its commodity portfolio — all while contributing to global food security objectives.

Solaris’s entry into the Brazilian agricultural market underscores Oman’s growing ambition to secure reliable sources of food and diversify its economy in line with Oman Vision 2040. The investment secures a long-term foothold in Latin America’s leading grain-producing nation and strengthens trade links with key markets in the Middle East, including Oman itself.

Agribrasil, which ranks among Brazil’s top five grain exporters, posted a strong performance in the first quarter of 2025, selling over 1.016 million tonnes of grain — a 75% increase from the same period last year.

The company’s net income soared by 302% to BRL 1.361 billion. Its exports are heavily focused on corn and soy, with 97% of its sales destined for international markets. 

The Middle East and North Africa (MENA) region, including Oman, accounted for 58% of Agribrasil’s exports.

According to Frederico Humberg, Agribrasil’s founder and current stakeholder, the transaction will enhance the company’s global reach and reinforce its commitment to supply stability.

This move is part of a broader trend among Gulf countries investing in overseas agribusinesses to safeguard against supply disruptions and ensure long-term food security. With Brazil being one of the world’s top agricultural exporters, Oman’s strategic acquisition places it in a stronger position to manage supply chain risks and meet domestic and regional demand in a volatile global market.

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