The prices of almonds followed an upward trend during the second half of 2024 in the Indian market. Initially, the market remained stable, with steady pricing as industry players awaited the arrival of the new harvest in August and September. When the new harvest entered the market, an increase in supply caused a brief dip in prices. However, within a few weeks, higher demand for almonds and other nuts led to a subsequent rise in prices.
The festival season in October and November further drove prices upward, maintaining the overall upward trajectory. Reduced imports and increased local consumption were key factors contributing to this bullish trend during the period. Although the prices of certain varieties, such as California almonds and Gurbandi badam giri, remained stable, the overall market experienced a rising trend. The Diwali festival and the wedding season in India during the winter months of the third and fourth quarters sustained high demand in domestic markets. Consequently, the prices exhibited an overall positive trajectory.