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Dry fruits prices increase drastically in India

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As the Taliban has established their power in Afghanistan, the trade between India and Afghanistan has come to a halt. With this both the countries have been affected. While Afghans relied heavily on agriculture and agricultural products for a source of income, India also is facing a surge in the prices of things like asafetida and dry fruits.

India and Afghanistan have been trading for years and in last 2 decades, this trade was constantly facing progress. In the financial year 2019-20, there was a trade of $ 1.5 billion between these two countries. However, now due to the stagnation in the trade, people in Afghanistan are facing trouble as exports have been curtailed.

Dry fruits
Image Source- Google | Image By- Business Standard

Afghanistan is the source of about 85% of total India’s dry fruits and spicy herbs. These include, but are not limited to, dry fruits, walnuts, raisins, asafetida, almonds, apricots and more. On the other hand, India exports clothing, medicines, computers, cement, synthetic fiber etc to Afghanistan.

Dry fruits
Image Source- Google | Image By- Times Of India

As the trade isn’t going on at present and Taliban has not talked about any trade agreement with India, the prices of dry fruits have increased 2-3 times in India in only a week. This is bad news for both consumers as well as traders.

Dry fruits
Image Source- Google | Image By- The Economic Times

Although it is kind of a loss to both the countries but the bigger one is for Afghanistan. During the recent financial year, India’s export to Afghanistan accounted for $825 millions while import was about $509 millions.

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