"Dubai chocolate" has gained popularity worldwide, causing a sharp rise in the price of pistachios, its materials and supplies.
On the 19th (local time), the Financial Times (FT) reported, citing data from the nut transaction company CG Hacking, that the price of pistachios has risen by 35%, from $7.65 per pound a year ago to $10.3.
The UAE chocolate company Pix launched Dubai chocolate in 2021. Since 2023, a craze for Dubai chocolate has swept through social media, and other companies have successively introduced similar products.
Despite the high price, the queue to purchase has not ceased. The Dubai-style chocolate introduced by Swiss company Lindt retails for 10 pounds (approximately 18,000 won) for a 145g product in the UK, exceeding the price of other chocolate bars.
Another reason for the sharp rise in pistachio prices is the poor harvest in the United States, the largest exporter. In California, the pistachio supply over the past year has decreased by more than 20% compared to the previous year. In contrast, during the same period, the amount of pistachios imported by the UAE over the last six months was 40% higher than the previous year.