India: Tree Nuts Annual

FAS New Delhi (Post) forecasts India’s market year (MY) 2023/2024 (August-July) almond production lower at 4,200 metric tons (MT) (kernel-weight basis), 800 MT lower compared to the U.S. Department of Agriculture (USDA) official MY 2022/2023 estimate of 5,000 MT. Post is foreseeing a drop in production due to inclement weather conditions during the crop’s bloom stage, which will reduce fruit setting. Post forecasts India’s MY 2023/2024 almond imports at 170,000 MT, up by six percent from the USDA official MY 2022/2023 estimate of 160,000 MT. With India’s lifting of its retaliatory tariff on U.S.-origin almonds, Post anticipates a boost in U.S. almond exports to this market. Post forecasts India’s MY 2023/2024 (September-August) walnut production lower at 33,450 MT (in-shell basis), 550 MT lowered compared to the USDA official MY 2022/2023 estimate of 34,000 MT. Post forecasts India’s MY 2023/2024 walnut imports at 40,000 MT, anticipating improved pricing, reduced local production, and rising demand.