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Emmanuel Faber, CEO of French food group Danone, announced Wednesday, 5th of September, that Centrale Danone's milk prices will be reduced, as a response to the viral boycott campaign launched in Morocco since April.
Speaking during a press conference held today in Casablanca, Faber indicated that a 470ml milk pack will be sold, starting from Friday, for 3.20 instead of 3.50 dirhams.
The company also created a 470ml milk pouch that can be purchased for 2.50 dirhams only.
These decisions were made public on Centrale Danone’s Facebook page. In a post, the company explained that costumers can communicate directly with the firm, through social media to ask questions, submit complaints and suggestions.
Meanwhile in Boston (USA), chief financial officer for Danone Cecile Cabanis told Reuters that the firm is trying to «regain consumer trust in the face of a consumer boycott in Morocco».
«We expect the Moroccan boycott impact to continue in the second half. At the end of July, a consultation started to rebuild (consumer) trust. CEO Emmanuel Faber is in Morocco today and will make announcements», she said earlier on Wednesday.
On April the 20th, Moroccans launched a boycott campaign to protest against the high cost of living. Boycotters targeted three major companies, including the country’s leading fuel distributor Afriquia SMDC, the French company’s Moroccan subsidiary (Central Danone), and mineral water company Oulmes which both issued profit warnings, impacted by the viral campaign.
In May, Centrale Danone, which is listed in the Casablanca Stock Exchange issued a profit warning, advising the stock market that profits will be lower than expected in 2018. The company has even reduced its raw milk purchases by 30% on May the 29th and terminated several short-term agency contracts.
