GCC companies vie for stake in Brazilian grain trader 

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Brazilian grain trader Agribrasil has held talks with suitors interested in buying a stake in the company, according to two sources familiar with the matter speaking on condition of anonymity because the discussions are private, and GCC companies are reported in the mix.

Two sources named Solaris Commodities, an independent commodity trader headquartered in Dubai, as one of the potential suitors. One source cited interest from Asian investors and named the Saudi Agricultural and Livestock Investment Company (Salic), based in Riyadh.

No agreement has been reached, according to one of the people.

A deal would give Agribrasil, one of the few independent grain traders in Brazil, access to fresh capital to develop the business.

From a foreign buyer’s viewpoint, closing a deal would represent setting foot in the farm powerhouse nation or increase their presence here, as the world grapples with trade wars and nations strive to guarantee food security.

Solaris and Salic did not have an immediate comment. Agribrasil said as a listed company, information is only shared through the official channel of the local stock market regulator, without elaborating.

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Agribrasil traded in 1.86 million tonnes of soybeans and corn in the first nine months of 2024, according to the latest available financial information. That represents a 68 percent rise from the same period in the previous year, driven mainly by a large increase in third-party soy traded volumes shipped through TESC, a port terminal in Santa Catarina state.

Exports of soy and corn accounted for 84 percent of Agribrasil’s sales in the nine months ending in September 2024, according to financial disclosures.

The company owns 51 percent of TESC.