The impact of the economic downturn on the demand for Dry Fruits Diwali also fell

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Mumbai, Ta. October 10, 2019, Thursday

Given the tactics of corporate spending cuts as a result of the economic downturn, there is no possibility of seeing a significant increase in demand in the current situation in the dry frutus industry on the occasion of the upcoming Diwali festival. Dryfruit sales are expected to decline by around 3-5% in Diwali this year, local market circles said.

Currently orders are slow to arrive but demand is expected to come out as Diwali festival draws closer. Generally, corporate orders start arriving ten to twelve days before Diwali.

This time, the demand may come out in the final but there is no possibility of growth in demand compared to last year, said the circles.

Chocolate and desserts are being chosen instead of buying drifruit for gifts during Diwali, thus saving companies cost.

The annual trade of drifruits in India is estimated at 5-7 lakh tonnes, of which 5% is done during Diwali festival. Most drifruits sold in India are imported. There is currently no special inquiry from the bulk buyers.

On the other hand, due to the increase in import duty on dry frutus coming from the US amid trade tensions, the prices of drifruits, especially almonds and walnuts, have increased higher this year compared to Diwali last year. Price of drifruit including nuts, cashews and walnuts varies according to variety.


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