Compagnie Sucrerie Marocaine et de Raffinage

What Compagnie Sucrerie Marocaine et de Raffinage does

Compagnie Sucrerie Marocaine et de Raffinage (COSUMAR) is Morocco's sole national sugar producer, operating as a vertically integrated enterprise spanning agricultural cultivation, beet and cane refining, packaging, and downstream co-products. Founded in 1929, the company runs nine industrial sites with a combined production capacity of 2.5 million tonnes and partners with more than 80,000 local farmers to secure domestic raw material supply. Its core products include refined white sugar, Stevia, organic sugar, and a set of industrial byproducts such as LCO2 (liquid carbon dioxide), animal feed, and biofuels, which it sells across both Moroccan and international channels.

The company's business model combines a protected domestic franchise — supplying Moroccan households, food and beverage manufacturers, HORECA, and industrial buyers through deep retail distribution — with an active export business reaching more than 80 countries. Strategic shareholder Wilmar International provides global procurement scale, technology transfer, and international market access, while the COMAGUIS joint venture in Guinea extends African production capacity. The consolidated revenue base stands at approximately 10,233 million MAD (~$1.0–1.05 billion), positioning COSUMAR as a regional heavyweight by volume.

Operationally, COSUMAR is investing in agricultural digitization through AI drone imagery, the Taysir digital farmer platform, and smart irrigation across its partner network to improve yields and input efficiency. Its stated strategic objective to reach 1 million tonnes of export volume by 2026, combined with product diversification into health-and-wellness and circular-economy co-products, signals a deliberate shift from a protected domestic incumbent toward a regionally diversified agro-industrial platform. Key risks include exposure to global sugar commodity price cycles, regulatory dependence on the Moroccan protection framework, FX volatility in export markets, and execution risk on the diversification agenda following the 2025 leadership transition.

Name

Compagnie Sucrerie Marocaine et de Raffinage

Legal name

COSUMAR S.A.

Website

https://cosumar.co.ma

Company type

Public

Founded year

1929

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Compagnie Sucrerie Marocaine et de Raffinage (COSUMAR) is Morocco's sole vertically integrated sugar producer, refining 2.5 million tonnes annually with 80,000+ partner farmers and exporting to 80+ countries. It supplies households, food manufacturers, and industrial buyers domestically and internationally.

Ownership category

akta.pro rank

Product category

Refined Sugar Production

NAICS

Cane Sugar Manufacturing (311314), Sugar Manufacturing (31131), Beet Sugar Manufacturing (311313), Sugarcane Farming (11193), Sugarcane Farming (111930), Sugar and Confectionery Product Manufacturing (3113), Sugar Beet Farming (111991)

SIC

Sugar & Confectionery Products (2060), Food And Kindred Products (2000)

akta.pro primary industry

Cane Sugar (Raw & Refined) (AFAJAAAA)

akta.pro secondary industries

Sugar & Sweeteners Trading/Wholesale (AFAIAKAB), Fermentation Substrates & Sugars (Molasses, Glucose Syrups, Lactose, Malt Extract) (AFAJAJAI), Sugarcane Farming (AFAGAEAA), Sugar Beet Farming (AFAGAEAB), Sugar & Starch Crop Contract Growing & Plantation Operations (AFAGAEAL)

Keywords

• Refined sugar production
• Sugar refining
• Agricultural aggregation
• Sugar beet processing
• Sugarcane milling

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Domestic Sugar Sales: Refined white sugar sold to wholesale customers, industrial manufacturers, and large retail chains across Morocco. Sugar is sold in various formats: lump sugar, refined sugar cubes (large and small pieces), and packaged sugar (1kg, 2kg, 25kg, 50kg bags).
2. Sugar Export: Refined white sugar exported under the temporary admission scheme (outside subsidy system) to 80+ countries. Exports reached 587,000 tonnes in 2023 and 653,000 tonnes in 2024. COSUMAR aims to reach 1 million tonnes exported annually from 2026.
3. Co-Products (By-Products): Sale of co-products from sugar manufacturing: dried sugar beet pulp pellets (50kg bags) used as livestock feed, sugarcane bagasse used as biofuel, and molasses (melasse) sold for animal feed and food yeast production.
4. Subsidiary Revenue Streams: Revenue from subsidiaries including SUCRUNION (sugar packaging under brands SUKARI, SUCRE D'OR, SUCREVIA, SUCRE LIGHT, TAGATESSE), WILMACO (vegetable oils and fats), COSUMAGRI (agricultural investment and seedling production), and GREEN TECH (seeds, fertilizers, agricultural products, and drone services).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

COSUMAR is Morocco's sole sugar operator, producing, refining, and marketing refined white sugar products (granulated sugar, sugar cubes, lump sugar) from sugar beet and sugarcane across 6 sugar factories and 2 refineries. The group sells through bulk B2B channels to industrial food manufacturers and wholesale traders, branded consumer sugar under the 'Nouchkour'/'Enmer' brand through retail chains, and exports to 80+ countries. Production capacity exceeds 2.5 million tonnes annually. Co-products include sugar beet pulp pellets, sugarcane bagasse, and molasses.

Product overview

COSUMAR (Compagnie Sucrerie Marocaine et de Raffinage) operates as a diversified agro-industrial group with a vertically integrated sugar value chain plus diversified subsidiaries. The core offering consists of refined sugar products marketed under the 'Nouchkour' (Tiger) brand — including granulated sugar, traditional and small/large sugar cubes — produced at 6 sugar factories and 2 refineries across 5 regions of Morocco, with a total white sugar capacity of over 2 million tonnes per year. Co-products from sugar manufacturing include sugar beet pulp pellets, sugarcane bagasse (biofuel), and molasses. The group extends into diversified businesses through subsidiaries: SUCRUNION (sugar packaging, 5 sub-brands), WILMACO (vegetable oils and fats), COSUMAGRI (agricultural investment and seedling production), and GREEN TECH (agricultural inputs and precision agriculture services). A key digital product is the 'Taysir' application serving 80,000 partner farmers. The group also operates internationally via COMAGUIS in Guinea and exports to 80+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• SUCRUNION: Subsidiary responsible for sugar packaging and branding, marketing products under brands including SUKARI, SUCRE D'OR, SUCREVIA, SUCRE LIGHT, and TAGATESSE domestically and internationally (European and North American markets).
• Ennour (النمر)

Products and services

• Nouchkour Granulated Sugar (Sucre Sanndé Nouchkour)
• Sugar Cubes (Nouchkour) Traditional Moroccan sugar cubes used for preparing mint tea and sold as a cultural gift of happiness and prosperity.
• Large Sugar Cubes (Nouchkour) Large sugar cubes, a Moroccan specialty designed for traditional tea preparation.
• Small Sugar Cubes (Nouchkour) Small sugar cubes meeting European CE n°2 quality standards, designed for easy handling in hot beverages.
• Sugar Beet Pulp Pellets (50kg) Dried sugar beet pulp in 50kg pellet form produced as a co-product of sugar beet processing, used as livestock feed raw material.
• Sugarcane Bagasse
• Molasses (Mélasse) By-product of sugar extraction and refining used as raw material for food yeast production and sold to farmers as livestock feed.
• SUCRUNION Branded Sugar Products COSUMAR's sugar packaging subsidiary developing refined and high value-added sugar products under five brands for domestic and international markets.
• WILMACO Vegetable Oils and Specialty Fats COSUMAR subsidiary producing and marketing vegetable oils, fatty materials, and specialty fats for the Moroccan and regional food industry.
• COSUMAGRI Agricultural Seedling Production Agricultural investment company managing farm centres producing sugarcane and sugar beet seedlings for sugar factories, and serving as a technology transfer hub.
• GREEN TECH Agricultural Inputs and Drone Services Subsidiary specializing in agricultural inputs (seeds, fertilizers, plant health products, animal feed) and precision agriculture services using drones and satellite imagery.
• Taysir Digital Agriculture Application Digital agriculture platform providing real-time monitoring of agricultural operations, input delivery tracking, mechanical service management, and sugar supply chain traceability for 80,000 partner farmers.
• Organic Sugarcane Sugar Certified organic sugar produced from organic sugarcane using refined extraction protocols meeting EU and international organic production standards.
• LCO2 Food-Grade Liquid CO2 Project Industrial innovation project at the Casablanca Refinery producing food-grade liquid CO2 for industrial use.
• COMAGUIS Packaged Sugar Products (Guinea) Packaged granulated and cubed sugar products manufactured at COSUMAR's 55%-owned joint venture unit in Conakry, Guinea for distribution in Guinea and neighboring West African countries.

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

Three partnerships are on record, tiered minor and core.

• FENAGRI (Fédération Nationale de l'Agroalimentaire)minorGTM or Marketing Partner · 1 January 2025FENAGRI co-organized the first Agro Export Day 2025 with the Moroccan Ministry of Industry and Trade, where COSUMAR received the Best Exporter of the Year 2024 award recognizing its export performance.
• FIMASUCRE (Fédération Interprofessionnelle Marocaine du Sucre)coreStrategic or Co-development Partner · 1 January 2023FIMASUCRE is the interprofessional federation of the Moroccan sugar sector established in 2007 under Law 04-12 on agricultural aggregation. COSUMAR participates in this federation which coordinates the sugar aggregation contracts with partner farmers across five regions, manages the solidarity fund for crop failure protection, and represents the sector in national agricultural policy discussions. A multilateral partnership convention was signed between FIMASUCRE, CAM, the Digital Pole of Agriculture, Technopark, and ENAM.
• COMAGUIS (Société Marocaine Guinéenne du Sucre)coreStrategic or Co-development Partner · 1 January 2019COSUMAR holds 55% of COMAGUIS shares in a joint venture with Guinean company 'SUGISEL' (45%). The unit is located 1 km from Conakry port with a capacity of 50,000 tonnes for packaging and marketing white sugar in Guinea and neighboring countries. This investment confirms COSUMAR's strategic vision for export development and regional competitiveness in West Africa.

Scale indicators15 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Tereos: French sugar and ethanol cooperative, one of the largest sugar producers in Europe and a global vertically integrated sugar operator. Comparable to COSUMAR in business model (cooperative-style upstream aggregation, sugar beet processing, refining, and diversified downstream products) and as a sugar-focused industrial peer.
• Nordzucker: European sugar producer operating sugar beet processing and refining across multiple Northern European countries. Comparable to COSUMAR as a beet-based sugar manufacturer with a focus on operational efficiency and export-led growth in commodity and specialty sugar segments.
• Cristal Union: French sugar cooperative producing sugar from beet, ethanol, and co-products with strong European distribution. Directly comparable to COSUMAR as a beet-focused sugar manufacturer serving both B2B industrial customers and retail markets with diversified downstream products.
• Mitr Phol Sugar: Asia's largest sugar producer and one of the world's top sugar millers, with operations spanning cane farming, sugar refining, ethanol, and downstream bioproducts. Comparable to COSUMAR as a vertically integrated sugar-from-cane operator pursuing diversification into renewable energy and higher-value products.
• Saint Louis Sucre (SUCDEN): French sugar producer owned by SUCDEN, with beet-based sugar production and historical ties to Morocco (originally a shareholder of COSUMA). Comparable to COSUMAR as a beet sugar producer with French and European market presence, and notable as a historically connected peer.
• Südzucker AG: Europe's largest sugar producer, headquartered in Germany, with vertically integrated sugar beet operations, refining, and specialty food ingredients. Directly comparable to COSUMAR's vertically integrated sugar-from-beet production model and export-driven growth strategy.
• British Sugar: UK's sole sugar producer, owned by Associated British Foods, operating sugar beet processing with integrated co-products. Comparable to COSUMAR as a monopoly domestic sugar producer with strong agricultural upstream linkages and export/ingredient diversification.

Regional players

• Al Khaleej Sugar: One of the largest sugar refineries in the Middle East, based in Dubai, focused on refining raw sugar into white sugar for regional and export markets. Comparable to COSUMAR's Casablanca refinery operations and Middle East/Africa export footprint.
• Illovo Sugar (Associated British Foods): Africa's largest sugar producer, operating in multiple sub-Saharan countries under ABF. Comparable to COSUMAR as a pan-African sugar operator with cane-based production, refining, and downstream consumer brands, though it serves different national markets.

Broad incumbents

• Wilmar International: Asia-based global agribusiness leader and COSUMAR's key strategic shareholder. Comparable as a vertically integrated sugar, edible oils, and food ingredients producer operating at vastly greater global scale than COSUMAR, providing a reference point for potential group-level strategy and value capture.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Compagnie Sucrerie Marocaine et de Raffinage