Blog: Dean BestAnalysing Turkey's potential

Dean Best | 28 March 2011

Look past the BRIC markets and there are a clutch of countries seen as the next group of key developing economies.

Opinions on which are the most-promising of the 'new' emerging markets differ but one fresh acronym has started to gain traction.

Coined by former HSBC chief Michael Geoghegan, CIVETS comprises six markets seen as possessing attractive characteristics for investors - including large and young populations, relatively sophisticated financial systems and - at least until recently for one of their members - political stability. (The 'E' in CIVETS stands for Egypt).

The 'T' within the six is Turkey and, on Friday, we took a look at the country's food retail sector in our latest BRICs and beyond column.

While Turkey is not seeing the same levels of growth as markets like China and Brazil, retailers and manufacturers see potential in the market, not only as a developing market in its own right, but also for its strategic link between Europe, Central Asia and the Middle East.

The food industry there faces a number of challenges - one analyst we spoke to claimed Turkey's agricultural sector was in some parts corrupt - but a number of suppliers and retailers are looking to expand their presence in the market, attracted by its population and rising GDP.

Coincidentally, a day before our column on Turkey went live, Nestle announced plans to invest TRY85m in a new cereals factory, which will serve the domestic market and become a hub for exports across North Africa and the Middle East.


BLOG

US food agency hints at direction of travel with "policy roadmap"

It's light on specific details but a new "strategic policy roadmap" for 2018 from the US Food and Drug Administration should give manufacturers a sense of where the agency could be looking to act this...

BLOG

Vegan tourist tales

I sampled some of the products launched in the UK in the New Year, aimed at those seeking to eat more healthily or cut down on their meat consumption....

BLOG

"We're evolving" - flagship US lobby group insists change coming as more members quit

Hershey and Cargill are the latest US-based food majors to have decided to leave The Grocery Manufacturers Association - and the lobby group says it is looking to change to meet the "disruption" in th...



Forgot your password?