Almond Prices Hold Steady Amid Reduced Imports

Despite a drop in almond imports, prices for California almonds and Gurbandi badam giri have remained stable. According to trade sources in India, sluggish buying by stockists in local markets has kept prices steady, with only minor fluctuations. Traders are waiting for further developments in the global almond market before making significant purchases.

Drop in Almond Imports

Almond imports have decreased due to the end of California’s almond season, the world’s largest almond producer. Typically, India imports around 850-900 containers of almonds monthly, but in July, only 610 containers arrived, marking a significant shortfall. This reduction has traders concerned and could influence market sentiment in the coming weeks.

Expected Boost in California Almond Production

California’s upcoming almond season will likely increase global almond supplies. The California Almond Board (CAB) projects a production of 2.80 billion pounds, a 13% rise from last season’s 2.47 billion pounds. While this increase should help stabilize global supply, the gap between imports and demand in India may still drive prices higher.

Festive Demand to Surge

With Diwali nearing, demand for almonds is set to rise as consumers choose dry fruits over sweets. This could sharply boost almond sales, pushing prices higher in India.

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