News International Sugar Journal

Morocco’s royal family sells bulk of its stake in the sugar group Consumar [Registered]

The investment arm of Morocco’s royal family, SNI, sold a 24.5% stake in Cosumar to a group of local institutional investors, traders said, as it moves to divest some of its extensive holdings. Cosumar is the sole sugar producer in Morocco. According to Czarnikow data, beet sugar production in 2013/14 is expected to be 250,000 tonnes while cane sugar production should be around 83,000 tonnes. Domestic consumption is pegged at 1.5 million tonnes. Societe Nationale d’Inestissement (SNI), responding to protests against the monarchy’s broad influence over the economy, is selling some of its wide range of interests to focus mostly…

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