Almond Price – Demand & Forecast & Almond price is increasing in demand.
Almond demand is increasing due to the healthy diet trend, rise in popularity of almond milk, and increase in almond-based food products.
Almonds are a popular nut, and their price is always subject to change. In this blog post, we’ll take a look at the demand for almonds, and provide a forecast for their price. We’ll also discuss some factors that can affect almond prices, and provide advice on how to stay ahead of the curve. So if you’re looking to buy or sell almonds, this is the blog post for you!
Sowing Period- February-March
Harvesting Period- August-January
Crop Season- Kharif and Rabi (since it is available all seasons)
Key Growing areas
- Jammu and Kashmir
- Himachal Pradesh
- Hilly regions of Andhra Pradesh
Production Trend and Stock Position
- The in-shell imports of almonds in India have risen at a CAGR of 17.5%. It is expected that in the future, the growth rate of almonds will be higher.
- The market revenue of almonds in 2018 globally amounted to around 10.6 B in crores which showed a 6.5% rise from the previous year. Exceptional growth in the market was noted from 2007-2018: its value rose at an average yearly rate of +2.4% over the last 11 years.
- Imports of in-shell walnuts had risen 46% between January and August 2020; on the other hand, the shelled ones rose by a surprising 329% during the same time.
- FAS New Delhi forecasted in MY 2021-2022 (August-July) that the production of almonds at 4500 metric tons rose 7% every year, and the imports of Indian almonds reached around 11500 metric tons. The production rise was due to newer varieties of trees and suitable weather conditions.
- Almond production is mainly condensed in the union territories of Jammu and Kashmir and Himachal Pradesh. Shelling rates have also fluctuated from 20-30% for hard shells and 40% for thin shells.
Pricing and exporting of Almonds
The consumer market in India is price-sensitive. Iranian Mamra and Oumi are varieties popular in the western and north-eastern regions of India (i.e., the National Capital Region- New Delhi, Rajasthan, and Gujarat).
If we take a look at the almond price today: amidst the pandemic, it can be seen that the prices have dropped. Favorable production and sufficient supply of almonds amidst COVID-19 measures had decreased. Almonds are likely to command higher pricing in the 2021-2022 season. Prices of almonds have increased by more than 25% in 2 months.
Almond prices– Natural Almond, packaging size: 10 Kg= INR 600/kg; Retaj Kashmiri Kagzi Almond= INR 355/kg; Nonpareil Almonds= INR 550/kg; Miltop California Almonds= INR 975 (INR 97.50/ 100g).
|Study Period:||2016 – 2026|
Mostly during the festive seasons, September-January, the demand for nuts can be seen. In recent times, however, people have noticed the nutritional value of nuts, and their demands are no longer restricted to the festive season. With health benefits being numerous, almonds especially have emerged as one of the most high-energy foods for children, patients, and people who are physically very active. Almonds are also being used in various other industries for their variable character. The cosmetic industry uses low-quality almond kernels to extract oil, whereas almonds are also used in confectionery products, cereals, beverages, snacks, etc. The Indian almond consumption in MY 2017/18 has been forecasted to be at 97,000 MT, a 10 percent increase over the previous year. Changing consumer preferences, weak dollar, low market price, and increased demand during the festive season drives this increase. With these situations, almond stocks are expected to increase.