DUBAI, April 20 – A global craze for pistachio-filled chocolate bars that began in Dubai has reportedly triggered a sharp rise in pistachio prices and led to a worldwide supply crunch of the nut.
The Financial Times (FT) wrote that prices for pistachio kernels have climbed from US$7.65 (RM33.70) per pound a year ago to US$10.30 now.
“The pistachio world is basically tapped out at the moment,” Giles Hacking, of nut trader CG Hacking, was quoted saying.
The surge in demand was sparked by a TikTok video posted in December 2023 featuring a chocolate bar made by boutique Emirati chocolatier FIX — which combines pistachio cream, shredded Middle Eastern pastry called kunafa, and milk chocolate.
Meanwhile, competitor Lindt’s version of the Dubai chocolate sells for £10 for a 145g bar in the United Kingdom, more than twice the price of its standard products, with some stores reportedly rationing purchases due to high demand.
This comes as the United States, the largest pistachio exporter, saw a poor harvest last year and unusually high-quality crops, which meant fewer lower-grade, shell-free kernels typically used in processed foods.
“There wasn’t much in supply, so when Dubai chocolate comes along, and [chocolatiers] are buying up all the kernels they get their hands on… that leaves the rest of the world short,” Hacking said.
FT said Iran, the world’s second-largest pistachio producer, exported 40 per cent more of the nut to the UAE in the past six months than it did in the entire year before, according to the country’s customs office.
The current shortage reverses a glut in 2023 when global supply outpaced demand, lowering prices and boosting production of pistachio-based ingredients like butter and paste, said Behrooz Agah of Iran’s pistachio association.
In California, some almond farmers have started planting pistachios instead, but the new trees will only begin producing in time for the September 2025 harvest.
“It feels like it came out of nowhere, and suddenly you see it in every corner shop,” said Charles Jandreau of Prestat Group, who is also facing difficulties sourcing kataifi, a key pastry ingredient to make kunafa.
At the same time, global cocoa prices have nearly tripled due to poor harvests, pushing producers to shrink bar sizes and alter recipes to use less cocoa.
