Diwali gifting gets pricier as pistachio, almond rates surge on US-Iran war, higher freight and weak rupee

Pune: Prices of most nuts and dry fruits are trending at record high levels this festive season, rising as much as 70% in the past year despite a cut in goods and services tax with effect from September 2025.

Prices of pistachios have surged 60-70% and almonds 25% from last Diwali, as tighter supplies from key suppliers Iran and Afghanistan, lower global almond production, higher freight costs and a weaker rupee lifted import charges.

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Notably, prices may rise even further due to prevailing buoyant festive demand, traders and importers said.

"Prices of almost all the nuts and dry fruits including almonds, pistachios, resins, walnuts, etc., are at all time high levels," said Gunjan Jain, president, Nuts and Dryfruits Council (India).

The GST on nuts was reduced to 5% from 12% in September 2025.

Compared to last Diwali, rates of in-shell pistachios are up 60-70%, while almonds are 20-40% higher depending on the varieties. Cashew prices increased 5-8%, resin 2-5%, dates 5-10% and anjirs or dried figs by 5-15%, showed trade data. Peshawari pistachio, used in Indian sweets, scaled a record high of ₹4,000/kg, rising about 40% in the past six months.

There are challenges of availability in sourcing nuts and dry fruits originating from Iran and Afghanistan due to the US-Iran war, said importers. Wholesale prices of pistachio in shell have increased nearly 74% from last year to ₹1,650/kg.

Although prices have been gradually moving upwards, the sharp rise has happened in the last two months.

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"Prices of dates have increased due to the increase in freight charges from the Middle East, the main source of dates for India," said Jain.

"Prices of nuts and dry fruits are on fire due to multiple factors. However, the rise has been significant in the last few months due to the evolving geopolitical situation," said Ravindra Mehta, managing director, Class Alzone, a dry fruit company.

Importers of Californian almonds said shipments from the US are getting delayed as shipping lines are giving preference to China, which is offering higher freight rates compared to India. "The new crop from California is expected to be substantially lower than expected earlier as a result of lesser use of fertilisers," said Mehta.