The price surge is heavily tied to poor harvests in California, where pistachio output plummeted, alongside regional disruptions in Iran and Afghanistan. To protect margins without exceeding traditional price points, gift box producers are shrinking standard packs while swapping in less expensive ingredients. Even with these cost pressures, festive gift volume has risen 5% to 7% year-on-year. Higher-end corporate buyers are simultaneously pivoting toward exotic options like pecans, hazelnuts, and flavored cashews.
Key points
Retailers are shrinking overall package weights and substituting expensive ingredients wi…: Retailers are shrinking overall package weights and substituting expensive ingredients with seeds and berries to maintain corporate budgets.
Supply shortages from Iran and Afghanistan, combined with a weaker rupee and elevated shi…: Supply shortages from Iran and Afghanistan, combined with a weaker rupee and elevated shipping costs, are inflating domestic wholesale prices.
Despite widespread price hikes across core dry fruits, overall festive gift pack volumes…: Despite widespread price hikes across core dry fruits, overall festive gift pack volumes are growing by 5% to 7%.
Sources checked by our analysis pipeline: 1
Your dry fruits box this Diwali may look very different! With the cost of dry fruits going up, retailers are looking at alternatives to fill in the boxes this time.
For example, pistachios are becoming increasingly scarce in Diwali gift hampers this year as a steep rise in prices and supply constraints force companies and retailers to look for cheaper alternatives, including seeds and berries.
Almond quantities are also being cut to keep gifting costs under control. Despite these changes, sales volumes of dry fruit and nut gift packs have grown 5-7% year-on-year, according to industry executives.
Pistachios prices almost double
Retail prices of pistachios have almost doubled compared with a year ago, driven by supply disruptions associated with the West Asia conflict and a smaller US crop. Almond prices, meanwhile, have climbed around 20%, according to dry fruit processors and importers.
At the premium end of the gifting market, however, demand for exotic nuts such as pecans, macadamias and hazelnuts remains on the rise.
Flavoured cashews are also gaining popularity, industry executives told ET. Industry estimates suggest that 30-35%…
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