Raki Sales Trending Downwards

Sales of raki, one of Turkey's favourite traditional spirits and a drink ingrained in the country's culture, are declining as a growing number of factors work against its. Turkish consumers are being hit by the double-whammy of an economic crisis and high taxes on alcoholic drinks, which has placed downward pressure on demand as consumers look for cheaper alternatives. BMI is forecasting a GDP contraction of 3.3% in 2009, which is likely to severely restrain non-essential food and drink spending in the near term. While we maintain our upbeat stance on the long-term dynamics of the Turkish economy (we

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