Festive Demand Drives Up Prices of Pistachios and Almonds

Mumbai. A significant surge in demand for dry fruits—spurred by Diwali and other festivals—has led to a sharp rise in prices across the market. The price of pistachios has doubled, while the cost of almonds has increased by 20 percent. Ongoing crises in West Asia, combined with a decline in production in California, USA, have further fueled the upward trend in the prices of both almonds and pistachios.

Market analysts note that the near-doubling of prices has dampened demand for pistachios. Due to limited supply and high costs, companies that create gift packs are shifting their focus toward other types of dry fruits.

Similarly, the quantity of almonds included in these gift packs is also being reduced. Interestingly, despite these challenges, the market for dry fruit and nut gift packs has seen a 5–7 percent growth compared to last year.

There is robust activity in the packaging and retail sale of premium and exotic dry fruits—such as macadamia nuts, pecans, and hazelnuts—as well as flavored cashews. The annual market for dry fruits and nuts in India has grown to approximately ₹75,000 crore, with 30–35 percent of this business occurring during the festive season (centered around Diwali).

This year, the import of pistachios has become more expensive due to rising prices in major producing and exporting nations, including Iran, Afghanistan, and the United States. In California, pistachio production is estimated to have fallen by nearly 40 percent this year, driving prices up by as much as 50 percent.