Why Have Makhana Prices in the US Increased Twofold?
Synopsis
Key Takeaways
New Delhi, Dec 26 (NationPress) A 25-gram pack of foxnuts (Makhana), once priced at $2, has surged to $4 in recent months in the US. This price hike is attributed to tariffs imposed by President Donald Trump, which have strained household budgets, according to a recent report.
As reported by Al Jazeera, the 50 percent tariffs on imports from India have severely impacted sales, resulting in a staggering 40 percent drop in shipments to the US.
Nevertheless, Indian foxnut exporters have successfully identified alternative markets, the report notes.
A Denver-based leather garment trader, originally from Kolkata, shared that his monthly grocery budget soared from $500 to $900 during the pandemic, specifically highlighting the rising costs of foxnuts.
“Despite the challenges, there are signs of optimism – Indian foxnuts are gaining traction in new markets and are increasingly being recognized as a health superfood in India,” the report continued.
Exporters are now noticing growing demand from countries such as Spain and South Africa, fueled by the Indian diaspora and the rising awareness of the health benefits of foxnuts.
In the 2024-25 period, India exported approximately 800 metric tonnes of foxnuts to various markets, including Germany, China, the US, and the Middle East, with the US representing half of these exports.
“The sector is brimming with potential, as it remains in its early stages and is primarily recognized among the Indian diaspora abroad. There is a pressing need to enhance awareness both domestically and internationally,” stated Satyajit Singh, whose company, Shakti Sudha Agro Ventures, accounts for half of India's foxnut exports.
The Indian government has recently initiated a Makhana Board with an initial investment of Rs 1 billion to formalize the value chain while providing training, quality control, and export facilitation.
India is the world's leading producer of makhana, contributing nearly 80 percent of the global supply, as noted in a recent session of Parliament. The state of Bihar is pivotal to the country’s makhana production, accounting for around 85 percent of national output, with Darbhanga emerging as a critical hub for cultivation and processing.
aar/na