February 26, 2019 / 8:13 PM / 6 months ago

UPDATE 1-Morocco's Cosumar to start producing sugar in Saudi refinery in 2019- CEO

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CASABLANCA, Feb 26 (Reuters) - Morocco’s Cosumar will start production at its refinery in Saudi Arabia’s Yanbu before the end of 2019, its CEO said on Tuesday.

The refinery will have a capacity of 850,000 tonnes of refined sugar to be commercialised in the Saudi and regional markets, Mohammed Fikrat told reporters in Casablanca on the eve of an international sugar conference.

Cosumar’s refimery in Casablanca supplies Morocco with 100 percent of its white refined sugar needs and exports about 400,000 tonnes of its surplus to 40 countries in the MENA region and Africa, he said.

“Exports represent between 20 to 25 percent of our turnover,” he said.

The Casablanca refinery imports 50 percent of its raw sugar needs from Brasil, while the other half is produced and processed locally, he said.

Reporting by Ahmed Eljechtimi; Editing by Angus MacSwam

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