Moroccan Sugar Giant Cosumar Thrives Amid Crisis, Boosting Exports by 25%

The positive result recorded by Cosumar in 2020 is mainly due to exports, which have increased by 25% to 650,000 tons exported to about thirty countries, with more than 20% of the volume exported absorbed by the African continent and 10% destined for the United States. In seven years, the tonnage shipped has been multiplied by about 100, reports Jeune Afrique, noting that thus, Cosumar’s export activity, which began timidly in 2013, has accelerated in recent years, with the arrival of its new reference shareholder, the Singaporean Wilmar, one of the world giants in agribusiness.

This leap made in a few years must be maintained. Thus, to ensure that the Asian market does not escape it, due to high logistics costs, Cosumar’s refinery in Durrah, Saudi Arabia, will start up very soon with a production of 850,000 tons, to serve the Saudi market and the MENA region, where the expected deficit is over 8 million tons of sugar per year. Not to mention the sites located on one of the quays of the port of Yanbu and that of Comaguis 1 km from the port of Conakry.

"From the development of exports, to the plant in Saudi Arabia, to the one established in Guinea, everything we have been doing in recent years is part of our new diversification strategy Leader@25," the management of the Moroccan group said. The strategy, implemented in 2017, aims to make Cosumar, present in the sugar industry for 90 years, "a national, regional and continental leader in diversified agri-food" by 2025. In addition, the partners are building a vegetable oil plant, next to Cosumar’s refinery in Casablanca, for an investment of 350 million dirhams, to meet a strong demand on the Moroccan market, where 40% of consumption is imported.