Turkey’s appeal to food manufacturers02 July 2012
Turkey may be part of Europe but given the state of its economy you’d hardly know it. The fiscal reforms the country put in place after a severe financial crisis in 2001 saw its GDP grow by more than 6% annually until 2008.
For food manufacturers, Turkey represents both opportunities and challenges. The predominant food retailers are local corner stores so supermarkets don’t have the power they do in other countries but, on the other hand, this presents logistical difficulties in distributing to large numbers of small customers.
The FT also notes that there is relatively low demand for ready meals and for private label. However, there is a discernible appetite for international goods, and Unilever has successfully adapted its products to mirror local tastes.
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