Festive season demand for dry fruit sand chocolates has reached the pre-Covid level as pharmaceuticals, logistics and banking sectors are the major buyers. As a matter of fact, retail demand for dry fruits and chocolate upsurge during Diwali and Dhanteras in Indian households is also on the higher side this year.
According to Vijay Singh Bhuta, president, Mumbai Dry Fruits Traders Association, dry fruits such as cashews, pistachios, almonds, and raisins are mostly bought during the festive season. Supply of dry fruits from Afghanistan, Iran and the US is smooth and prices have not increased much, which has come as a big relief to the trade. The demand this year is much higher than 2020 and has touched the pre-Covid level.
Following the Taliban takeover of Afghanistan in August, there was apprehension that prices of dry fruits would surge and in turn impact festive season demand. However, this did not happen. Besides, production of yellow raisins in the western belt of Maharashtra and Belgaum in Karnataka has been good.
For a brief period of time, prices went up 10-15%. But when the supply side normalized subsequently, prices corrected and remained stable, and traders are expecting an upsurge in demand from corporates given that the economy is bouncing back and the vaccination drive has picked up.
Orders from corporates were expected to be huge, but they were normal, just like in 2019. On the other hand, chocolate makers say that since local restrictions are not there, corporates are reaching out to their clients in every corner of the country. Assorted chocolate FinTech maker, Ayesha Memon, partner of Mumbai-based Chocolate Smith, said that most of the orders have come from pharma companies, the banking sector, and logistics companies.
For more than a year and a half, people have fought with Covid and related anxiety. So, they want to celebrate this festive season in a big way. They have liquid money in hand and are therefore spending on dry fruits and chocolates.