Bittersweet Diwali: Dry fruit prices up by 15% due to high festive demand

The prices of sweets have risen by an average of 15% due to the growing preference for dry-fruit-based sweets compared to traditional mawa (khoya) sweets this Diwali in Gujarat. 

October generally brings the peak demand for dry fruits. Like every year, this time too, the state has recorded a consumption of 150 to 400 tonnes of dry fruits.

In Ahmedabad’s Madhupura market, known as Gujarat’s dry-fruit hub, imports this year included 40,000 tonnes of almonds, 55,000 tonnes of cashews, 8,000 tonnes of pistachios, and 4,000 tonnes of walnuts. 

Among these, cashew demand has grown by 15–20%, while almond demand has increased by 10%. This trend indicates that dry-fruit-based sweets are becoming more popular than mawa sweets.

Nationally too, the usage of dry fruits in sweets, cakes, and other dishes has been growing, and estimates suggest that by 2028, India’s dry-fruit market could reach ₹1.7 lakh crore. In Gujarat, about 60% of annual dry-fruit sales happen during Diwali.

According to Madhupura traders, dry-fruit usage this year has increased across hotels, restaurants, catering businesses, corporate gifting, the snack sector, and ice cream products. 

As a result, during this Diwali season, dry-fruit prices have risen by 15–20%. Due to delayed supply from Australia, the UAE, and the USA, almonds that earlier cost ₹600 per kg are now priced at ₹700 per kg, and Walnuts have touched ₹700 per kg.

What drives large demands?

Beyond household consumption, the trend of corporate gifting and family gifting has also boosted demand. Along with dry fruits, the hamper-packing business has also grown. Over the past five years, hamper gifting has expanded massively.

Speaking on the trend, a trader from a reputed dry-fruit chain in Ahmedabad said, “Be it Diwali or any other festival, people now prefer giving dry fruits as gifts. They have a longer shelf life, and even people with diabetes or other health concerns can consume them.”

“Customers buy small loose packets for home, while also opting for hampers as gifts. Gift hampers today range from ₹500 to ₹5,000 or even ₹7,000. Thanks to hampers, the packaging business is also seeing strong growth,” he added.

Dry-fruit prices comparison