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MY2022/23 Indian almond imports forecast at at 148,000 metric tons

New Delhi insiders forecasts marketing year 2022/23 (August-July) Indian almond imports (shelled-basis) at 148,000 metric tons (MT). This is a slight decrease from MY 2021/22, as food inflation volatility, rupee depreciation, and global shipping challenges are likely to persist in the near term, impacting price.

Nevertheless, India has continued its high demand for almonds, walnuts, and pistachios, as it diversifies its tree nut imports to less price sensitive origins, including Chile (walnuts) and the United States (pistachios). MY2022/23 walnut (in-shell basis) imports are forecast to reach 36,000 MT, a nine percent increase from MY 2021/22 due to continued demand growth, favorable domestic prices, and a predicted drop in domestic production. India’s pistachio (in-shell basis) imports are estimated at 30,000 MT, with methodical growth in demand that is projected to reach 50,000 MT by MY 2024/25.

MY 2022/23 Indian walnut consumption is estimated at 66,000 MT.  Additionally, market year 2021/22 consumption is revised to 63,000 MT, reflecting adjusted trade estimates. Indian consumers demand walnuts due to the nut’s perceived health benefits and typically favor lighter skin kernels.

Traditional and modern retail stores, including India’s e-retail sector, are contributing to greater consumer demand. Since the pandemic, walnuts have remained popular with consumers who perceive the nut as having significant health benefits. In-shell walnuts remain in high demand and are sold predominantly in traditional markets and retail.

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