There is also more demand for and higher imports of fruits and vegetables, amid a general sway towards natural immunity boosters since the pandemic.
In the first five months of FY24, imports in value terms were up 70% for avocado from a year earlier, while more than doubling in case of shelled almonds, and growing 80% and 62% for pistachio and olives, respectively. Imports of cereals such as buckwheat and millets have also grown sharply, albeit on a smaller base.
Climbing imports for these products suggest an increasing demand for high-end eatables perceived as healthy alternatives to those available domestically.
“People have continued with healthy and immunity-boosting food products after the Covid-19 pandemic and we expect almond imports to be around 20% higher this year, from the previous year,” said Vijay Kumar Bhuta, president, Dry Fruit Traders Association.
Olive oil imports grew 24% in the same five months this year, despite a 60% rise in prices due to two consecutive years of drought in Europe, while imports of palm oil – considered less healthy -declined 26%.
Besides, India’s free trade agreement with Australia has given a boost to imports of nuts and citrus fruit such as oranges and avocados. Avocados and olives are high-end premium products in India and the high growth is on a low base.
“The quality of the Indian avocado – with almost 12% oil content – is different from the South American ones, which are softer, take less time to ripen and have a buttery texture owing to larger oil content of about 18%,” said Mohit Singla, chairman, Trade Promotion Council of India. “While India is growing large quantities of avocado, the predictability of the Indian variant is often low,” he said, explaining the rise in inbound shipments.
Indians also upped their consumption of imported fruit and vegetable juices by 5% during April-August 2024.
Mixed condiments and seasonings imports, meanwhile, saw a 4.6% rise to $12.46 million in the five months ended August 31, 2023.
In contrast, the imports of several consumption items have declined following a change in consumer preferences post-pandemic.
This year, imports of pasta fell 16.25% on-year to $12.91 million during April-August and those of bread, pastry, cakes, and biscuits were down 9.5% to $32.24 million. “A lot of these confectionery products are now available in India and made with ingredients specific to our taste and requirements. In a way, import substitution has happened,” said an official.
India’s goods imports in April-September this financial year were $326.98 billion, lower than $372.56 billion a year ago.