BENGALURU: The ongoing conflict between Iran and Israel is causing a stir in the global oil market, and its effects are being felt in Bengaluru, particularly in the dry fruit trade. The tension between the two countries has led to a surge in demand for dry fruits, with prices expected to rise within a week.
The situation is exacerbating the woes of dry fruit sellers, who are already struggling to cope with the increased demand during the Ramzan season. Iran and Israel are significant suppliers of dry fruits, including dates, to India, and the conflict has disrupted shipments, leading to a shortage of stocks in the market.
Traders are selling existing stocks at current prices, but warn that prices will rise if the situation persists. The Ramzan season typically sees a spike in demand for dry fruits, particularly dates, which are a staple during the holy month. However, the current shortage is expected to hit consumers hard.
According to traders, over 30 varieties of dates have arrived in the market for Ramzan, but the conflict has led to a backlog of shipments at Iranian and Israeli ports. This has led to a rise in prices in major markets like Mumbai and Delhi, and traders are warning of a potential shortage in the coming days.
Mohammed Idris Choudhary, a prominent trader in Bengaluru, told Public TV, “Like every year, I had placed bulk orders two months ago with traders in Saudi Arabia, Iran and Afghanistan. I have been selling dry fruits for the last 20 days and the stocks will last another 15-20 days. If I run out of stock, I may not get fresh stock though it may be available in Delhi and Mumbai”.
“The Bandar Abbas port is Iran is shut after damage in the conflit and Iran is a major supplier of dates, zafra, pistachio and anjur. It has become a wait-and-watch scenario. If we don’t get adequate stocks, the prices will double”, he explained.
Further, Choudhary said, “Two months ago, I purchased zafran at Rs 2.5 lakh per kg, now it costs Rs 3 lakh per kg. Anjur was being sold at Rs 1,200-1,600 per kg and it has now risen to Rs 2,000 per kg. The price of plain pista has risen from Rs 2,300 to Rs 2,500 per kg and in the coming days, we fear that there may be shortage”.
The conflict is having a ripple effect on the economy, and consumers are likely to feel the pinch. It is hoped that the conflict will be resolved soon to stabilise prices and bring relief to consumers.
