India’s dry fruit trade is crunching strong numbers this festive season, driven by soaring demand for almonds, cashews, and pistachios. As the country prepares for Diwali—a festival synonymous with sweets, gifting, and indulgence—imports are rising sharply to meet the seasonal appetite, pushing up prices across wholesale and retail markets.
Industry analysts say consumption typically peaks between August and December, a five-month window that sees a predictable spike in both demand and inflation. “Data reflects a seasonal surge during India’s festive months, when cultural traditions and gifting patterns significantly amplify dry fruit imports,” said Paras Jasrai, Associate Director at India Ratings and Research.
Traders report that this year’s demand extends beyond households, with corporate gifting and wedding orders adding to the rush. “This demand is relatively inelastic—coming largely from higher-income consumers and companies. So, price sensitivity remains low,” noted Madan Sabnavis, Chief Economist at Bank of Baroda.
Numbers from 2024 underscore the upward trend. India’s monthly almond imports averaged $94.4 million between August and December, up from a full-year average of $84.8 million. Cashew imports rose even faster, averaging $173.9 million during the same festive window, compared to a yearly average of $134.8 million.
Similar momentum is visible in raisins and walnuts. Raisin imports averaged $8 million in value terms during the last five months of 2024, up from a full-year average of $7.5 million, while walnut imports rose to $11 million, compared with $7.2 million annually.
Experts say trade agreements have helped cushion the surge by streamlining imports. “India’s pacts with Australia and the UAE have supported higher inflows of key dry fruits,” said a government official. Almond imports from Australia rose 93% in the April–July period of FY26, while imports of dry dates from Oman and Saudi Arabia jumped 66% and 25%, respectively. Pistachio shipments from the UAE and the US also surged.
According to Gunjan Jain, President of the Nuts and Dry Fruits Council (India), 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.
The seasonal consumption boom is also showing up in inflation data. Cashew inflation averaged 9.4% between August and December 2024, nearly triple the full-year average of 3.1%, driven by strong demand and supply adjustment lags.
As India’s festive calendar continues to expand, so too does its appetite for premium gifting and indulgence. With rising urban incomes and stronger trade partnerships, the country’s dry fruit market is poised for another sweet—and profitable—Diwali.