Strong demand, festive season give almond imports big push
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India's almond imports are expected increase by 7.2% to a record 80,000 tonne this year due to rising demand, according to a USDA report.
In 2011-12 marketing year (August-July), the country had imported 74,600 tonnes of almonds, it said.
"Assuming normal market conditions, Indian almond imports are forecast to reach 80,000 tons in 2012-13 marketing year, up 7.2 %from the previous year," the US Department of Agriculture (USDA) said in its latest report.
The country is dependent on imports as domestic production is in the range of 1,100-1,200 tonnes, while the domestic demand has been increasing and is expected to be 75,000 tonnes this year, it said.
US almonds account for about 72% of India's total import requirement. Australia, China, Afghanistan, Iran and Syria are also leading suppliers, it added.
The report highlighted that non-traditional suppliers from Italy, Malaysia, Thailand, South Korea, Africa, Japan,and Taiwan can account for up to 10% of the market.
The demand for nuts typically peaks during festive season, from September through January. Since last month,domestic almond prices have trended upward, reflecting upcoming festive demand, the report said. According to the USDA, total supply of almonds in the country is expected to be 1.05 lakh tonnes this year.
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