Cosumar, a leading sugar producer in Morocco, has reported a group share of net income of MAD 333 million ($34.76 million) for the first half of 2026. This represents a decline from MAD 387 million ($40.40 million) during the same period in 2025. The company's consolidated revenue also decreased to MAD 4.82 billion ($503.19 million) at the end of June 2026, compared to MAD 5.36 billion ($559.03 million) in the first half of 2025.
The decline in consolidated revenue is mainly attributed to lower global sugar prices, which had a significant impact on export revenue. Cosumar's revenue fell by MAD 540 million ($56.37 million) over the same period. Despite this, the company remains optimistic about its agricultural outlook, expecting more than 60,000 hectares of sugar crops for the 2026/2027 campaign. This is supported by a significant improvement in dam filling rates, which will enhance conditions in the agricultural sector upstream.
Cosumar's industrial facilities have a refining capacity of more than 7,000 tonnes of sugar per day, enabling the company to supply the domestic market and support exports. The company also noted that port traffic has gradually normalized during the second half of 2026, which should allow it to meet its objectives set in its 2026 budget. This development is expected to support Cosumar's operations and help maintain progress toward its budget targets.
The company's net income for the first half of 2026 remained below the level recorded a year earlier, with a decrease of MAD 54 million ($5.63 million) between the two periods. Cosumar continues to manage changes in international sugar prices and conditions affecting its export activity. The decline in consolidated revenue reflects the impact of lower global prices during the period.
For the remainder of 2026, Cosumar expects improved port traffic conditions to support its operations and maintain progress toward its budget targets. The company's agricultural outlook points to a larger area dedicated to sugar crops for the next campaign, supported by higher dam filling rates. This is expected to enhance the company's production capacity and support its export sales.
Cosumar's refining capacity of more than 7,000 tonnes per day will continue to support regular supply to the Moroccan market and the development of its export sales. The company's industrial, logistics, and commercial capacity will play a crucial role in meeting the objectives set in its 2026 budget. Cosumar's performance in the second half of 2026 is expected to be influenced by its ability to manage changes in international sugar prices and conditions affecting its export activity.
The company's expectations for the 2026/2027 campaign are positive, with more than 60,000 hectares of sugar crops expected to be covered. This will be supported by higher dam filling rates and Cosumar's refining capacity. The company's performance in the first half of 2026 reflects the challenges posed by lower global sugar prices, but its outlook for the remainder of the year is optimistic.
Key points
- Cosumar's net income fell to $34.76 million in the first half of 2026.
- The company's consolidated revenue decreased to $503.19 million at the end of June 2026.
- Cosumar expects more than 60,000 hectares of sugar crops for the 2026/2027 campaign.
