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Commodities
The FAO food price index gradually declined to 120.4 points by November 2023, down 11% y/y (Record high: 159.7 in March 2022).
As of December 22, Brent was down 3% y/y to $79 (it tested the $140-level in March 2022) while the Dutch TTF 1-month Natural Gas Futures contract was down by 62% y/y to €35/MWh ($410 per 1,000 m3) (it tested $4,000 in March 2022).
The Bloomberg Commodity Index (BCOM) was down by 11% y/y at 99 after seeing 138 in June 2022.
The USD/Turkish lira (TRY) pair was up 57% y/y to 29.27.
13 Turkey Outlook 2024 www.intellinews.com
