"FT": Popular "Dubai Chocolate" pressure on the offer of global pistache

The big demand for “Dubai Chocolate” has led to a global crisis in Pistachios supplies, which raised prices, to contribute the crisis of a lack of cocoa offer for years. After introducing the Emirati producer per fix in 2021, he achieved a limited popularity before making a sound thanks to the distribution of a video clip via the “Tech Tech” platform in December 2023, which was viewed by more than 120 million people, and led to the rise of a group of forged chocolate products, -newspaper. Many signs of chocolate in the region are witness to momentum during the last period, and the Saudi company “asset” has announced a plan for a major global expansion, and this expansion, which aims to increase the number of “asset” stores to more than 500 stores from the current number, are less than 200 stores, diversify. Pistache prices are rising worldwide, and peeled pistache pills jumped from $ 7.65 per pound to about $ 10.30 per pound, according to CG Hacking. Haking pointed out that “the global pistache market is currently going through a scarcity of supplies.” It coincides, with a sharp decline in cocoa offer for four years, increasing the global chocolate prices and urgent profit margins in the sector. Although important companies such as “Nestlé SA” and “Lindt & Sprüngli AG” and “Hershey Co” have their large scope allowed them to overcome the turmoil in the market, while small businesses have faced difficult prices their customers can face. In the season 2023-2024, the market was seen how a shortage of cocoa offer of 478 thousand metric tons, which is the largest deficit since at least the 1980s, according to the estimates of the international cocoa organization. As a result, prices rose to three times last year and approached $ 13,000 a tonne, which was a tremendous pressure on chocolate and food manufacturers. Pistache exports to the UAE showed the statements of the Iranian Customs Authority that the export of Iran, who is the second largest producer of Pistache, rose by 40% to the UAE during the six months ending in March 2025, compared to the quantities exported over the past twelve months. This deficit forms a fundamental shift of the year 2023, when the global offer exceeded pistache, which led to a decline in prices, according to Bahuz Agha, a member of the Iranian Pistache Association board. Pistachios shares have already declined last year, after a disappointing harvesting season in the United States, which is the most important source of these kinds of nuts. Haking explained that the quality of the US crop was higher than usual, which led to the low amounts available in low -cost pistachios, which are usually used as basic ingredients in the chocolate and other food industry. In California, a number of farmers tend to grow pistachios instead of planting almonds over the past few years, mainly due to the decline in almond prices. However, these new trees will not produce their fruits before the upcoming harvest season in September. Chocolate fans have already suffered from a cocoa offer crisis, which led to about three times prices in 2024, as crops were damaged due to hard weather and diseases.