At a glance
Cosumar produces and sells the sugar consumed in Morocco. The group supervises sugar beet and sugar cane growing in five farming regions, processes the crops in its factories and refines imported raw sugar in Casablanca. It also exports part of its output.
History
The Casablanca refinery was set up in 1929. The state became a shareholder in 1967, and the ONA group took control in 1985, the year of the stock market listing. In 2005 Cosumar bought the four state-owned sugar companies and became the country’s sole sugar producer. Its capital is now held mostly by Moroccan institutional investors, since Singapore’s Wilmar group exited in 2023.
Latest published results
In 2025, consolidated revenue reached MAD 10.49 billion (+2.4%) and net income attributable to the group MAD 704 million, down because of a tax reassessment and non-recurring items.
In the first half of 2026, consolidated revenue fell 10% to MAD 4.82 billion and net income attributable to the group came to MAD 333 million, versus MAD 387 million a year earlier. The group attributes the decline to lower world sugar prices, which weighed on exports, flooding in the Gharb and Loukkos regions, and port disruptions in the first quarter.
What to watch
The 2026-2027 farming season, for which more than 60,000 hectares of sugar crops are planned, world sugar prices, and the return to normal port traffic.
Key dates
- 1929
The Casablanca refinery is founded, producing about 100 tonnes of sugar a day as sugarloaves.
- 1967
The state acquires half of the capital: Cosuma becomes Cosumar.
- 1985
The ONA group takes control and the company lists on the Casablanca Stock Exchange.
- 1993
Acquisition of the Doukkala sugar factories at Zemamra and Sidi Bennour.
- 2005
Acquisition of the four state-owned sugar companies: Suta, Surac, Sunabel and Sucrafor.
- 2009
FAO medal for its agricultural aggregation model.
- 2013
Singapore's Wilmar group buys a 27.5% stake from SNI.
- 2014
SNI sells its majority stake to a group of institutional investors.
- 2023
Wilmar sells its 30.05% stake to Moroccan institutional investors.
- 2025
Consolidated revenue of MAD 10.49 billion.
Sources: Le Matin, Cosumar : le bénéfice recule au premier semestre 2026, September 24, 2026; Cosumar, communiqué financier des résultats 2025, March 18, 2026; Cosumar, histoire du groupe; Forbes Afrique, Wilmar sort du capital de Cosumar, July 2023.
Profile updated on October 29, 2026.