Dubai chocolate craze boosts pistachio prices by 20%
A close-up photo of premium-quality Antep pistachios, known for their rich flavor and vibrant color, often used in desserts and snacks. (AA Photo)
Pistachio prices have seen an average increase of 20%, driven by the rising demand linked to the Dubai chocolate trend that started last month.
The price of top-quality shelled pistachios has surged from ₺950 ($27.2) at the start of the season to ₺1,350, while the price of natural shelled pistachios for baklava has climbed from a range of ₺250-₺320 per kilogram to ₺500.
Ahmet Polat, president of the Nizip Pistachio Producers Cooperative, attributed this price hike to increasing export demand and heightened interest in Dubai chocolate, interviewing economy-based dunya.com.
“At the beginning of October, the buying price was ₺352. By the end of the month, it rose to ₺367. However, 30-40% of the product was reddish. On October 30, the price was ₺420. By November 6, it was ₺445, and on Nov. 25, it reached ₺470. Currently, depending on the quality, pistachios are trading between ₺480 and ₺500 per kilogram,” Polat explained.
Ulker purchases 50 tons of pistachios
Polat also mentioned that Ulker, a leading Turkish food company, recently entered the market for Dubai chocolate, purchasing approximately 50 tons of pistachios at ₺1,150 per kilogram. “This has further stimulated the market,” Polat said.
However, he pointed out that some companies have paused procurement for inventory counts, which could slightly ease prices in the short term. “After the next 10 days, when final orders are shipped, prices might drop by ₺10-₺15. I do not anticipate further price increases,” Polat concluded.
