By Anthony Shevlin

Danone SA's (BN.FR) Chief Executive Emmanuel Faber said Tuesday that he wants to understand the reasons behind the current boycott against its Morocco subsidiary Centrale Danone.

Speaking via a Facebook video, Mr. Faber said he personally wanted to come to the north-African country to "meet with consumers, young people, grocers, employee representatives and farmers so as to listen to the message of Moroccans, understand it and change things."

The boycott, which began on April 20, is a protest against rising consumer prices and comes amid mounting criticism of the Moroccan government.

Mr. Faber said he fully respects the choice of the Moroccans who have decided to no longer buy the brand, adding that he "deeply regrets it."

"Morocco represents 2% of Danone's total sales and we think the boycott could decrease the Moroccan turnover by 40% in 2018," analysts at Bryan Garnier said. This would hit the group's organic sales growth by 0.8% over the year, they added.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

June 26, 2018 10:45 ET (14:45 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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