Pistachios vanish from Diwali gift boxes as dry fruit prices rise
Retailers are replacing expensive pistachios with seeds and berries as the cost of dry fruit baskets increases by up to 40 per cent.
Retailers and companies are replacing pistachios with cheaper alternatives like seeds and berries in Diwali gift hampers due to rising costs, according to the Times of India.
The overall cost of dry fruit baskets has increased by 25-40 per cent year-on-year. Importers, wholesalers, and retailers attributed this to weather-related disruptions, higher shipping expenses, lower supplies from Iran and Afghanistan, and the depreciation of the rupee.
Pistachio retail prices have almost doubled compared to last year. Ravindra Mehta, a member of the central governing council at the Nuts and Dry Fruits Council of India (NDFC-I), said the current pistachio crop in California is expected to be only about 40 per cent of last year's crop.
Mehta stated that wholesale pistachio prices have increased by 50 per cent, with retail prices rising even more. Almond prices have also climbed around 20 per cent, according to dry fruit processors and importers.
To manage fixed corporate gifting budgets, companies are also reducing the total weight of hampers. Rahul Kamath, director at Bola Agro, said that while pistachios have become almost entirely absent from gifting hampers, sales volumes of dry fruit and nut gift packs have grown 5-7 per cent year-on-year.
While mainstream packs are changing, demand for exotic nuts like pecans, macadamias, and hazelnuts is rising in the premium segment. Kamath noted that enquiries for these varieties and flavoured cashews have increased this Diwali.