India: Tree Nuts Annual
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FAS New Delhi (Post) forecasts marketing year (MY) 2022/23 (August-July) Indian almond imports (shelled-basis) at 148,000 metric tons (MT) 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.