Pistachio prices soar high as the Dubai chocolate trend still remains popular

Pistachio prices jumped 34% in a year last year as a result of a global shortage of pistachios following the sharp rise in popularity of Dubai chocolates. A media house reported a few days back that the TikTok video on Dubai chocolate containing pistachio cream has received more than 120 million views since it was posted in December 2023.

The sensation that Dubai chocolate created

The sensational popularity of Dubai chocolate, first launched by Dubai, United Arab Emirates-based chocolate brand FIX in 2021, has led to a shortage of pistachios supplies, with numerous knockoffs appearing around the world. The chocolate bar "Can't Get Knafeh Of It", created by British-Egyptian entrepreneur Sarah Hamouda and her husband Yezen Alani. Inspired by Sarah's pregnancy cravings, the chocolate became a modest hit until the TikTok video in December 2023.

Nut trader CG Hacking said the price of peeled pistachio kernels has jumped from $7.65 a pound a year ago to around $10.30 a pound now.

In the US, a major exporter of pistachios, inventory decreased last year due to a decrease in pistachio yields, and a decrease in the supply of pistachio kernels, which are sold cheaply for food, also affected the price increase, CG Hacking said.

In California, the US, some farmers have also opted for pistachio farming instead of cheap almonds, but the actual pistachio harvest is not expected until September.

The world's second-largest producer of pistachios, Iran, is also getting benefitted from the popularity of Dubai chocolate. The amount of pistachio kernels Iran exported to the United Arab Emirates from March to September last year was 40% more than its exports in the previous 12 months, Iranian customs said.

What is this Knafeh chocolate?

Kunafa or Knafeh chocolate is a rich chocolate bar that has a stuffing of knafeh (or somethimes vermicelli), tahini paste and pistachio butter. The pistachio butter often has a hint of white chocolate too. Inspired from this chocolate, chefs and food influencer and content creators are also exploring Knafeh cake jars, cake boxes, ice creams and such keeping in mind the flavour profiles.