PWC News
Wednesday, May 21, 2025
No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
No Result
View All Result
PWC News
No Result
View All Result

Dubai chocolate sparks pistachio shortage as TikTokers go nuts

Home Economy
Share on FacebookShare on Twitter


Unlock the Editor’s Digest totally free

Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.

The meteoric rise of Dubai chocolate has triggered a worldwide pistachio provide crunch, exacerbating a worldwide scarcity of the inexperienced nut and sending its costs hovering.

The bars, a wedding of pistachio cream, shredded pastry and milk chocolate, had been a modest hit after their 2021 launch by boutique Emirati chocolatier FIX — till a TikTok video turned them into a worldwide sensation.

The clip, posted in December 2023, has amassed greater than 120mn views and fuelled a worldwide craze for pistachio chocolate, spawning a number of knock-offs.

As a result of craze, Pistachio kernel costs have surged from $7.65 a pound a 12 months in the past to round $10.30 a pound now, mentioned Giles Hacking of nut dealer CG Hacking. “The pistachio world is principally tapped out in the intervening time,” he mentioned.

The chocolate doesn’t come low cost. Lindt’s Dubai providing retails at £10 for 145 grammes within the UK, greater than double its different bars. However customers are so eager that some outlets are reportedly limiting what number of bars every buyer should buy, whereas Lindt and British grocery store Wm Morrison have launched pistachio cream Easter eggs.

Pistachio shares had been already dwindling after a disappointing harvest final 12 months within the US, the nut’s main exporter. The US crop was additionally increased high quality than typical, leaving fewer of a budget, shell-free kernels which might be typically bought as components for chocolate and different meals, mentioned Hacking. 

“There wasn’t a lot in provide, so when Dubai chocolate comes alongside, and [chocolatiers] are shopping for up all of the kernels they get their arms on . . . that leaves the remainder of the world brief,” Hacking mentioned.

Iran, the world’s second-largest producer, exported 40 per cent extra pistachios to the UAE within the six months to March 2025 than it did over the total 12 months earlier than that, in line with Iran’s customs workplace. 

The scarcity marks a pointy reversal from 2023 when international pistachio provide exceeded demand and brought on a value drop, mentioned Behrooz Agah, a board member at Iran’s pistachio affiliation. 

As a result of that glut, “quite a lot of byproducts turned obtainable comparable to pistachio butter, oil and paste, which might be utilized in a variety of pistachio-based meals,” he mentioned. “That was across the identical time Dubai Chocolate was launched and regularly went viral worldwide.”

Pistachio processing facility
A Pistachio processing facility in California © Ed Younger/Common Pictures Group/Getty Pictures

In California, some farmers have begun switching from almonds to pistachios in recent times due largely to low almond costs, however these bushes gained’t begin producing till subsequent season’s harvest in September.

Within the meantime, chocolatiers say they’ll’t produce sufficient of the cream-filled bars.

“It feels prefer it got here out of nowhere, and instantly you see it in each nook store,” mentioned Charles Jandreau, basic supervisor for Prestat Group, which owns luxurious UK chocolate manufacturers. 

“Nobody’s prepared for this,” he mentioned, describing his struggles to obtain kataifi, the shredded Center Japanese pastry used within the cream.

Really helpful

An artisanal miner searches for gold inside an excavated pit at the Prestea-Huni Valley Municipal District in the Western Region, Ghana

Chocolate lovers had already been affected by a cocoa provide crunch, which led costs to nearly triple in 2024 as excessive climate and illness hit harvests. Producers have been promoting smaller bars with new recipes that scrimp on the cocoa.

FIX, which named its unique viral bar “Can’t Get Knafeh of It” after a conventional Arab desert, mentioned whereas it was “unimaginable” to see how the corporate had impressed “a motion in chocolate”, they had been involved that others could also be exploiting their model to mislead prospects. The corporate doesn’t promote its bars exterior the UAE and solely places them on sale for 2 hours a day.

Its rivals are undeterred.

We’re “simply overwhelmed with the demand for Dubai chocolate,” mentioned Johannes Läderach, chief government of Swiss chocolatier Läderach. “We’ve launched them just a few months in the past, and it’s simply not stopping, it’s simply going via the roof.” 



Source link

Tags: chocolateDubainutspistachioshortagesparksTikTokers
Previous Post

SafeMoon’s Former CEO Faces Fraud Charges as DOJ Maintains Case

Next Post

Bill Ackman makes big bet on Hertz becoming tariff winner

Related Posts

The £582m plan to create new UK economic powerhouse
Economy

The £582m plan to create new UK economic powerhouse

May 21, 2025
‘Death by a thousand cuts’: Major bank sounds alarm on Trump’s handling of economy
Economy

‘Death by a thousand cuts’: Major bank sounds alarm on Trump’s handling of economy

May 20, 2025
AI startup Cohere has doubled sales so far this year, CEO says
Economy

AI startup Cohere has doubled sales so far this year, CEO says

May 21, 2025
Home Depot won’t raise prices because of tariffs. But some items may disappear
Economy

Home Depot won’t raise prices because of tariffs. But some items may disappear

May 20, 2025
Sri Lanka to start insurance scheme for fishermen | EconomyNext
Economy

Sri Lanka to start insurance scheme for fishermen | EconomyNext

May 20, 2025
Polish stocks enjoy big rally as investors seek havens from trade war
Economy

Polish stocks enjoy big rally as investors seek havens from trade war

May 20, 2025
Next Post
Bill Ackman makes big bet on Hertz becoming tariff winner

Bill Ackman makes big bet on Hertz becoming tariff winner

How much for that egg : Planet Money

How much for that egg : Planet Money

Firing Jerome Powell will crash financial markets — Sen. Elizabeth Warren

Firing Jerome Powell will crash financial markets — Sen. Elizabeth Warren

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

FTX to distribute over  billion to creditors in second planned payout on May 30
Cryptocurrency

FTX to distribute over $5 billion to creditors in second planned payout on May 30

by PWC
May 15, 2025
0

Key Takeaways FTX is ready to distribute over $5 billion to collectors beginning Could 30, 2025. Eligible collectors will obtain...

TrusTrace Launches AI-Powered Supply Chain Sustainability Traceability Platform – ESG Today

TrusTrace Launches AI-Powered Supply Chain Sustainability Traceability Platform – ESG Today

May 17, 2025
SEC charges tokenized asset firm execs with 0 million crypto fraud

SEC charges tokenized asset firm execs with $100 million crypto fraud

May 21, 2025
Aave (AAVE) — DeFi Innovation, Flash Loans, and Why Options Trading Is the Smarter Play

Aave (AAVE) — DeFi Innovation, Flash Loans, and Why Options Trading Is the Smarter Play

May 18, 2025
The .5 Trillion Revolution That’s Just Taking Off

The $1.5 Trillion Revolution That’s Just Taking Off

May 21, 2025
1 Stock to Buy, 1 Stock to Sell This Week: Snowflake, Target | Investing.com

1 Stock to Buy, 1 Stock to Sell This Week: Snowflake, Target | Investing.com

May 19, 2025
PWC News

Copyright © 2024 PWC.

Your Trusted Source for ESG, Corporate, and Financial Insights

  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis

Copyright © 2024 PWC.