Leading russian wheat trader Solaris expands into Brazil and other markets beyond wheat

Crops trader Solaris Commodities, a top player in Russian wheat, is planning expansion into Brazil, Africa, and the Middle East as it seeks to grow its business beyond wheat and further into logistics and processing.

After Russia’s invasion of Ukraine in 2022, Solaris shifted its headquarters from Geneva to Dubai, as Swiss banks became more cautious about financing Russian companies, even though agricultural products are not subject to Western sanctions. The company is now positioning itself as an integrated supply-chain investor, overseeing key segments from production to logistics.

Brazil is central to Solaris’ ambitions, alongside its expansion in the Middle East and Africa. According to General Manager and Head of Investments for the region Oleg Pankratov, the company aims to become a significant player in other commodities beyond wheat by leveraging access to Brazilian markets.

Last year, Solaris acquired a majority stake in grains trader Humberg Agribrazil to enter the Brazilian corn and soybean markets and secure port logistics access. The company also purchased a terminal in São Francisco do Sul in southern Brazil and plans to expand it.

“We invest in the supply chain,” Pankratov said. “We have transportation in Kazakhstan, a terminal in Brazil, a terminal in Egypt, and a processing facility in Oman. All of this provides stable revenues and strengthens our position in global markets.”

Tags: grain, Brazil, soybean, wheat, logistics, trading, Solaris, Russia, corn