Cosumar began to recover a more favorable trajectory after a difficult first quarter in 2026. During the second quarter, the group’s revenue reached MAD 2.619 billion, representing a limited 2.8% year-on-year decline, compared with a 17.3% drop in the first quarter. First-half revenue stood at approximately MAD 4.8 billion.

The improvement recorded in the second quarter reflects the recovery of part of the sales volumes delayed during the first months of the year. The group was affected by several factors, including logistical and port disruptions, difficult weather conditions and developments in international sugar prices.

The 2026 agricultural campaign was also affected by flooding in the Gharb and Loukkos regions. National white sugar production reached approximately 240,000 tonnes, compared with 280,000 tonnes during the previous campaign. These conditions affected the group’s operations and the volumes available to the processing industry.

Water Returns to the Center of the Agricultural Equation

The outlook for the next agricultural campaign appears relatively more favorable, supported by an approximately 15% improvement in sugarcane yields and better water conditions. Cosumar plans to allocate more than 60,000 hectares to sugar crops during the 2026/2027 campaign.

At the same time, the group continues to implement its industrial investment program, including a project to produce food-grade liquid carbon dioxide, aimed at recovering an industrial by-product and reducing part of the country’s dependence on imports.

According to published information, the project is expected to begin operations between late 2026 and early 2027. Cosumar is entering the second half of the year with several supporting factors, including improved water conditions, greater stability in logistical and port flows, and recent developments in international sugar prices.

However, a full recovery will continue to depend on agricultural output, international prices and the group’s ability to control costs.