2023-12-01 10:12:46
Cosumar’s local sugar turnover stood at 4.26 billion dirhams, up 0.3% compared to the same period of the previous year.
The Cosumar Group will continue to work to contribute sustainably to the country’s food sovereignty and to deploy all efforts to ensure a normal supply of sugar to the national market. A commitment reiterated by the sugar operator alongside its latest financial communication. In terms of perspective, Cosumar will continue its efforts for the success of the planting and sowing program through the mobilization of the entire agricultural upstream and the support of partners and administrations as well as the continued deployment of solutions promoting rationalization some water. “Cane planting and beet sowing operations have started in all areas despite the difficult climatic conditions and the very low level of filling of the dams,” underlines the operator in this regard. And to recall that “despite the rainfall deficit and the very low filling rate of the dams which characterized the sugar campaign, the Cosumar Group, with the support of institutional partners, local authorities and all agricultural partners, deployed all the necessary means to mitigate the impact on the campaign.
The assessment of the production of white sugar from the agricultural campaign shows a drop in volumes. We note a production of 224,000 tonnes in 2023 compared to 321,000 tonnes the previous campaign. Overall, the withdrawal of sales volumes available for export impacted Cosumar’s turnover for the third quarter of the year. It stood at 7.65 billion dirhams, down 3% compared to the same period of the previous year.
In parallel with the drop in sales volumes available for export, Cosumar observes a slight increase in consumption on the national market. Local sugar turnover recovered by 0.3% to around 4.26 billion dirhams at the end of September 2023. Regarding the Group’s net debt, it stood at around 1 .79 billion dh compared to 985 million dh at the end of December 2022. It was in fact impacted by the sharp increase in international raw sugar prices in 2023. With regard to the investments recorded for the first nine months of the year, they amount to 130 million dirhams. According to Cosumar, they concerned the continuation of upgrades and maintenance of the industrial tool.
1701436361
#slight #increase #observed #3rd #quarter #Today #Morocco
