Weighed down by the cost of inputs and the increase in expenses, the sugar group, a subsidiary of Sifca, posted a loss of more than 5 billion CFA francs in 2019.

Sucrivoire, the subsidiary of Sifca, the Ivorian agrifood giant, and listed on the Regional Stock Exchange (BRVM) shows a poor performance for its 2019 financial year. This worries its small shareholders who will not receive dividends .

An unprecedented situation since 2016, when Sucrivoire went public.

Sucrivoire, which operates two industrial sites in Borotou-Koro (north-west) and Zuénoula (center-west), is a victim of the difficult environment for the sector. The Ivorian sugar industry is marked in particular by the low yield rate of sugar plantations, which forced the government to put in place a strategy to revive the sector last February.

100 billion investment plan maintained

On a downward slope last year, Sucrivoire posted a loss of 5.34 billion CFA francs (8.1 million euros) against -301 million CFA francs in 2018. The turnover however experienced a slight increase from 56.187 billion CFA francs in 2018 to 56.66 billion CFA francs in 2019.

Sucrivoire nevertheless maintains its investment plan for the period 2018-2023, estimated at 100 billion CFA francs.

The company is paying a heavy price for rising inputs and expenses. The cost price of Ivorian sugar is thus estimated at 419,755 CFA francs per ton, compared to approximately 204,940 CFA francs in all the producing countries.

In the Ivorian sugar sector, where two players Sucaf, a subsidiary of the Somdiaa group, and Sucrivoire share the market, agricultural productivity and the sugar content of the cane is very low. Factory performance also remains low. Despite everything, Ivorian consumption continues to increase by around 10% each year, so local production in 2018 was 197,270 tonnes, needs were around 243,000 tonnes.