New Delhi: This festive season may be short for India's dry fruit trade, but it promises to be sweet and profitable. Prices of almonds, cashew nuts and pistachios are rising, imports are increasing, and shop shelves are never bare as India gears up for Diwali—a festival marked by sweet treats and gift-giving.
Domestic demand for dry fruits typically peaks between August and December, nudging up both imports of the dry fruits and inflation. In that sense, this year is no different.
According to an ET analysis, India’s shipments of almonds, cashew and other nuts increase sharply in this five-month festive window.
“Data reflects a seasonal demand surge around India’s festive months, when cultural and consumption patterns amplify dry fruit imports,” said Paras Jasrai, associate director at India Ratings and Research.
Dry fruit sellers say this is the time when consumption goes beyond homes, spilling into corporate gifting and wedding-season orders.
“Since this demand is relatively inelastic, stemming mainly from higher-income consumers and corporate buyers during the festive season, price sensitivity remains low,” said Madan Sabnavis, chief economist at Bank of Baroda.
The numbers bear that out. In 2024, India’s monthly import of almonds averaged $94.4 million in value terms between August and December compared with the full-year average of $84.8 million.
Imports of cashew nuts increased even faster, averaging $173.9 million in the festival months compared with the 12-month average of $134.8 million.
Trade pacts smoothen imports
“Raw cashew imports are expected to touch 1.3–1.4 million tonnes in 2025, up from the usual 1.1–1.2 million tonnes,” said Gunjan Jain, president of the Nuts and Dry Fruits Council (India).
The uptrend is visible in raisins and walnuts, too. India’s monthly import of raisins averaged $8 million in value terms in the five months to December of 2024 compared with the full-year average of $7.5 million. For walnuts, the five-month average was $11 million compared with $7.2 million for the full year.
Trade pacts have helped smoothen the seasonal rush. “India’s agreements with Australia and the UAE have aided higher imports of certain dry fruits,” said a government official. Almond imports from Australia climbed by 93% in the April–July period of FY26, while dry date imports from Oman and Saudi Arabia during the period jumped by 66% and 25%, respectively. Pistachio imports from the UAE and the US also surged. In 2023, too, import trends told a similar story—festival season consumption pushed shipments and prices higher. “Festive season-driven demand pressures push up imports to meet domestic needs, which also kicks up price pressures as supply takes time to adjust,” said Jasrai of India Ratings. Inflation numbers mirror this pattern. Inflation in cashew averaged 9.4% between August and December of 2024 compared with the full-year average of 3.1%.
Domestic demand for dry fruits typically peaks between August and December, nudging up both imports of the dry fruits and inflation. In that sense, this year is no different.
According to an ET analysis, India’s shipments of almonds, cashew and other nuts increase sharply in this five-month festive window.
“Data reflects a seasonal demand surge around India’s festive months, when cultural and consumption patterns amplify dry fruit imports,” said Paras Jasrai, associate director at India Ratings and Research.
Dry fruit sellers say this is the time when consumption goes beyond homes, spilling into corporate gifting and wedding-season orders.
“Since this demand is relatively inelastic, stemming mainly from higher-income consumers and corporate buyers during the festive season, price sensitivity remains low,” said Madan Sabnavis, chief economist at Bank of Baroda.
The numbers bear that out. In 2024, India’s monthly import of almonds averaged $94.4 million in value terms between August and December compared with the full-year average of $84.8 million.
Imports of cashew nuts increased even faster, averaging $173.9 million in the festival months compared with the 12-month average of $134.8 million.
Trade pacts smoothen imports
“Raw cashew imports are expected to touch 1.3–1.4 million tonnes in 2025, up from the usual 1.1–1.2 million tonnes,” said Gunjan Jain, president of the Nuts and Dry Fruits Council (India).
The uptrend is visible in raisins and walnuts, too. India’s monthly import of raisins averaged $8 million in value terms in the five months to December of 2024 compared with the full-year average of $7.5 million. For walnuts, the five-month average was $11 million compared with $7.2 million for the full year.
Trade pacts have helped smoothen the seasonal rush. “India’s agreements with Australia and the UAE have aided higher imports of certain dry fruits,” said a government official. Almond imports from Australia climbed by 93% in the April–July period of FY26, while dry date imports from Oman and Saudi Arabia during the period jumped by 66% and 25%, respectively. Pistachio imports from the UAE and the US also surged. In 2023, too, import trends told a similar story—festival season consumption pushed shipments and prices higher. “Festive season-driven demand pressures push up imports to meet domestic needs, which also kicks up price pressures as supply takes time to adjust,” said Jasrai of India Ratings. Inflation numbers mirror this pattern. Inflation in cashew averaged 9.4% between August and December of 2024 compared with the full-year average of 3.1%.
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