As India gears up for the Diwali season, the dry fruits and nuts market once again takes center stage — both as a festive gift essential and as an indicator of consumer spending trends. In 2024, Diwali fell on *October 31, while in 2025 it arrives earlier, on *October 20.
This year’s market scenario shows a mix of stability and surprises. According to *Mr. Hiren Gandhi, Secretary of the *InGlobal Business Foundation, the market data compiled from major trading hubs — Ahmedabad, Delhi, Mumbai, and Chennai — reveals that while some nuts maintained steady prices, others saw sharp fluctuations due to shifts in import policies, GST changes, and international supply dynamics.
Market Overview and Key Influences
- GST Reduction Impact (Effective September 22, 2025):
The GST rate on most nuts and dried fruits — including almonds, cashews, pistachios, walnuts, figs, and dates — was reduced from 12% to 5%. Initially, this caused a temporary dip in prices, but festival demand, tight supply chains, and import constraints quickly neutralized the impact. - Rising Domestic Demand:
India’s nuts and dry fruits market continues to grow at an impressive *~11% CAGR (2024–2028). Nearly *60% of annual sales occur around Diwali, underscoring how deeply this market is tied to festive consumption and gifting culture. - Global and Supply Chain Factors:
- Importers faced logistical delays from Afghanistan, the U.S., and Chile — key suppliers of figs, almonds, and walnuts.
- Currency fluctuations and freight cost adjustments also influenced final wholesale prices.
- The reduction in import volumes from conflict-prone or high-tariff regions led to uneven distribution in the wholesale market. Item-wise Analysis Figs (Anjeer): Major Price Drop
The biggest surprise this season has been the *sharp decline in fig prices, dropping from *₹2,400/kg in 2024** to ₹1,800/kg in 2025 — a 25% reduction.
Around 90% of India’s figs are imported from Afghanistan, and due to export disruptions and weaker international demand, there was an oversupply in Indian markets. Traders in Ahmedabad and Delhi report significant stock clearances to stabilize the market.
Walnuts: Substantial Price Rise
Walnuts witnessed a strong *25% price increase, climbing from *₹625/kg to ₹780/kg**.
Stricter customs enforcement on under-invoiced imports from Chile and higher U.S. export prices pushed rates upward. Despite the GST cut, local markets saw no relief as festive demand surged ahead of Diwali.
Stable Segments: Almonds, Cashews, and Pistachios
- *Almonds (California): Remained steady at *₹800/kg**, matching 2024 levels.
- *Cashews (W320): Marginal dip from *₹825/kg to ₹820/kg**, largely offset by the GST reduction.
- *Pistachios: Held firm at *₹1,100/kg**, with adequate supply restoring balance after mid-year shortages. Dates (Khajur) and Raisins: Slight Decline
- *Dates: Premium Saudi and Iranian varieties dropped slightly by around *₹100/kg** due to improved import volumes post-GST revision.
- *Raisins: Witnessed a mild *10% decline, attributed to abundant domestic production in Maharashtra and lower export demand. Diwali 2025 – Nuts & Dry Fruits Price Difference Block
| Item/Variety | 2024 Price (₹/kg) | 2025 Price (₹/kg) | Difference (₹/kg) | 📈 % Change | 💬 Trend Summary |
|---|---|---|---|---|---|
| Almonds (California) | 800 | 800 | 0 | 0% | Stable across regions |
| Cashews (W320) | 825 | 820 | -5 | -0.6% | Slight GST benefit |
| Pistachios (Pista) | 1100 | 1100 | 0 | 0% | Balanced market |
| Figs (Anjeer) | 2400 | 1800 | -600 | -25% ↓ | Afghan supply impact |
| Dates (Khajur) | ~900 | ~800 | -100 | -10% | Mild correction |
| Walnuts | 625 | 780 | +155 | +25% ↑ | Customs pressure |
| Raisins | ~500 | ~450 | -50 | -10% | Slight domestic dip |
🟢 Biggest Fall: Figs (Anjeer) ↓ ₹600/kg
🔴 Biggest Rise: Walnuts ↑ ₹155/kg
⚖️ Stable: Almonds, Cashews, Pistachios
The 2025 Diwali nuts and dry fruits market shows resilience amid volatility. Despite policy adjustments and supply chain disruptions, consumer enthusiasm and festive buying have kept most prices stable.
As analyzed by *Mr. Hiren Gandhi, *“The festive season remains a barometer of India’s consumer confidence. Even with global uncertainties, Diwali demand ensures steady momentum for the dry fruits and nuts trade across India’s major markets.”
Secretary, InGlobal Business Foundation (Ahmedabad / Delhi / Mumbai / Chennai)
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