Dry fruit prices in Telangana rise by up to 35 per cent
Wholesale prices for imported nuts have climbed due to higher freight charges, a weaker rupee and supply disruptions in West Asia.
Imported dry fruit prices in the Telangana wholesale market have increased by 25 per cent to 35 per cent, according to The New Indian Express. The price hike comes as demand grows ahead of the festive season and weddings.
Traders attribute the rise to the West Asia conflict causing shipping diversions, increased transportation costs, higher freight charges and a weakening rupee. Shipments from Iran and Afghanistan that traditionally moved through Saudi Arabia are facing diversions, adding to insurance and freight expenses.
Prices for American almonds have moved from Rs 880 to Rs 1,230 per kg, while pistachios rose from Rs 1,500 to Rs 2,000 per kg. Walnuts are now priced at Rs 2,100 per kg compared to the previous Rs 1,600, and pine nuts have increased from Rs 4,200 to Rs 5,500 per kg.
Prakash Jain, a trader at the Begum Bazar dry fruit market, said pistachio prices rose by 60-70 per cent over the last year. He stated that prices for almost all nuts and dry fruits, including raisins and walnuts, are at all-time highs.
The cost pressure has also affected sweets, which are 20-25 per cent more expensive. Sugar prices have risen from approximately Rs 45 per kg in July and August to between Rs 60 and Rs 70 per kg.
Wholesale and retail trader Hiten Shah said that if disruptions continue, prices are unlikely to decrease before December. Traders have also reported a 30-40 per cent decline in sales.