As Everyone Indulges in "Dubai Chocolate," Global Shortage Drives Pistachio Prices to Record Highs

Poor Harvests Due to Climate Change Also Contribute to Shortage

As the "Dubai Chocolate" craze sweeps across the globe, a deepening shortage of pistachios has led to a sharp increase in prices.

On April 19 (local time), the Financial Times (FT) in the UK reported that the price of pistachio kernels (shelled nuts) has soared from $7.65 (10,897 KRW) per pound a year ago to $10.30 (14,672 KRW) now. Giles Hacking of the nut trading company GG Hacking explained, "Pistachio supplies are essentially depleted worldwide," and added, "With overall supply already limited, the surge in demand for kernels due to the Dubai Chocolate craze has made it difficult for other countries to secure stock."

Dubai Chocolate. Fix Dessert Chocolatier social media capture

According to data from the Iranian Customs Service, Iran, the world's second-largest pistachio producer, exported 40% more pistachios to the United Arab Emirates in the six months up to March compared to the total export volume for the previous year. However, the supply is still insufficient.

Dubai Chocolate is a chocolate bar launched in 2021 by Fix, a chocolate brand headquartered in Dubai, United Arab Emirates. The bar consists of milk chocolate filled with pistachio cream and Middle Eastern-style thin pastry (kataifi). The combination of smooth chocolate and the crispy kataifi adds an enjoyable texture.

In December 2023, influencer Maria Behera posted a video on TikTok of herself eating this product, sparking a global Dubai Chocolate craze. As Dubai Chocolate gained immense popularity, major chocolate manufacturers such as Lindt and Nestle began producing similar products. In the UK, regulations now limit purchases of Dubai Chocolate-style products to two per person. Johannes L?derach, CEO of the Swiss chocolate manufacturer L?derach, told foreign media, "We are completely overwhelmed by the demand for Dubai Chocolate right now."

The pistachio shortage has also been influenced by poor harvests. The United States, the world's largest pistachio exporter, saw a weak harvest last year due to factors including climate change. In 2023, the pistachio-related industry in California was worth about 4 trillion KRW. Although some farmers in California have shifted to pistachio production instead of cheaper almonds, the related harvest is not expected until September. Foreign media added, "Pistachio inventories have already declined due to poor harvests in the US," and noted, "In particular, the proportion of affordable shelled kernels used as chocolate ingredients has decreased."