18 Sept 2025
The Indian dry fruit market is witnessing a sharp price surge, with sales dropping by nearly 25% compared to last year, as global trade disruptions and domestic tax concerns weigh heavily on the sector. The spike comes at a critical time when demand typically peaks in the run-up to the festive season.
Importers are reportedly delaying shipments amid uncertainty over US tariff decisions and speculation of a possible GST hike on dry fruits. Currently taxed at 12%, industry leaders fear that an upcoming tax review may push dry fruits into the 18% GST slab, further inflating consumer prices.
“Global supply chains are already under stress due to the West Asia crisis, and now tariff uncertainties are compounding the problem,” said Nitin Sehgal, CEO, Nuts and Dry Fruits Council (India). “If the GST slab is raised, consumer costs will escalate, which could further hit sales.”
Trade insiders noted that importers are also hesitant to clear consignments of almonds, walnuts, and other nuts from the US, anticipating a reduction in import duties following a proposed India-US trade agreement.
“Duty cuts on walnuts and almonds are widely expected, so shipments are being held back,” said Ravindra Mehta, founding member of the Nuts and Dry Fruits Council.
Prices of key dry fruits have already spiked. Walnuts jumped from ₹400 to ₹700 per kg, while almonds rose from ₹600 to ₹700 per kg in recent weeks.
With India’s ₹60,000-crore dry fruit industry depending on festivals for over 60% of its annual consumption, the price surge poses a significant challenge. This year’s festive calendar began early with Raksha Bandhan, Teej, Janmashtami, and Ganesh Chaturthi in July and August, adding further pressure to already strained supplies.