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Zimbabwe’s sugar industry recorded strong growth during the year ended March 31, 2026, with total sugar sales increasing 24% to 472,000 tonnes from 381,000 tonnes in the previous year, driven by higher domestic demand and a sharp increase in export volumes.
According to Hippo Valley Estates Limited’s financial results, the company contributed 234,975 tonnes, representing 49.8% of total industry sugar sales during the period.
The domestic market remained the industry’s largest outlet, accounting for 80% of total sugar sales, while exports represented the remaining 20%.
Local sugar sales rose 12% from 337,228 tonnes in 2025 to 379,319 tonnes in 2026. Export volumes recorded even stronger growth, surging 114% from 43,303 tonnes to 92,518 tonnes over the same period.
Hippo Valley Estates Chairman said the company continued to strengthen its performance despite operating in a challenging business environment.
The company’s financial performance reflected the improved market conditions and stronger sales volumes. Revenue increased 15% from US$192 million in 2025 to US$221 million in 2026, while operating profit climbed 337% from US$8 million to US$34 million.
Profit for the year rose 79% to US$24 million, compared with US$13 million in the previous year. Adjusted EBITDA also more than doubled, increasing 131% from US$14 million to US$32 million.
According to the financial report, the positive results were supported by exchange rate stability, stronger incomes and favourable weather conditions.