Home Business Economy Surging prices of dried fruits, including pine nuts and peanuts, strain consumers...

Surging prices of dried fruits, including pine nuts and peanuts, strain consumers amid inflation

0
Dry fruit prices
Dry fruit prices

Amid rising food inflation and soaring utility bills, consumers are grappling with another challenge: exorbitant prices for dried fruits. High-quality pine nuts (chilgoza) lead the way at Rs12,000—Rs14,000 per kg.

Dealers in the Saddar area recalled that high-quality pine nuts were priced at Rs15,000-16,000 per kg last year, Rs5,200 in 2022, and Rs8,000 in 2021.

“For all income strata people, pine nuts are now unaffordable,” they noted, adding that some buyers are purchasing them in minimal quantities. Another shock to the public is the unusually high price of Parachinar peanuts, now selling at Rs1,200 per kg by pushcart vendors and roadside stalls. Just a year ago, they were priced at Rs1,000 per kg in retail markets and Rs720 in 2021.

Despite road blockages and tensions in Parachinar in recent weeks, peanut supplies have continued to flow uninterrupted into Karachi. A trader explained that many dealers had already secured large stocks before the unrest.

“Due to high prices, peanuts have gone out of range for many people, as some only buy 125 grams for Rs150,” he said, adding that a low- and middle-income family with two to three children typically purchases just 250 grams.

Good quality American almonds (Baadam) are now priced at Rs2,800-3,000 per kg, up from Rs2,000 per kg in 2021.

Indian cashew nuts (Kajoo), once priced at Rs2,200 per kg in 2021, now cost Rs5,200, marking a significant increase from last year’s price of Rs4,800.

Traders noted that the price of cashew nuts has only risen compared to last year.

Walnuts, both with and without shells, are priced at Rs2,400-3,000 and Rs1,000-1,200 per kg, showing no change from last year’s rates. In 2021, walnuts without shells were priced at Rs1,400-1,600 per kg, and those with shells at Rs600-800 per kg.

Salted Iranian pistachios are selling for Rs2,800-3,000 per kg, almost the same as last year.

Although there are no official measures to quantify the volume of expensive dried fruit sales, some retailers claim a 30 percent increase in demand despite the higher prices.

This claim seems plausible, given the remarkable 83 percent rise in quantity and 122 percent increase in value of dried fruit and nut imports during the first five months of FY25. According to data from the Pakistan Bureau of Statistics, dried fruit and nut imports surged to 84,573 tonnes ($66.2m) in FY25, compared to 46,278 tonnes ($30m) during the same period last year.

Dried fruits are widely used in various dishes, especially halwa and sweetmeats, with demand spiking during Islamic festivals such as Eidul Fitr and Rabi-ul-Awal.

Retailers mentioned that stability in the rupee-dollar exchange rate in 2024 helped keep imported food prices under control.

Read this next: Ministry of Finance flags outdated financial systems of major oil & gas firms

Exit mobile version