The war in Iran has caused a shortage of pistachios and a rise in prices — FT
The war in Iran has disrupted global pistachio supplies and caused a sharp rise in prices on the world market.
This is reported by the Financial Times.
Iran is one of the world’s key pistachio producers, accounting for about 20% of global production and a third of exports. Due to instability in the region, logistics chains have been disrupted, and shipping companies have begun canceling shipments to major hubs in the Middle East.
Against this backdrop, pistachio prices have risen to $10 per kilogram—the highest level since 2018.
The situation was further complicated by a surge in demand, particularly due to the popularity of so-called “Dubai chocolate,” where pistachios are one of the key ingredients.
The combination of supply issues and rising demand has put significant pressure on the market. Due to the product’s specific properties, it is difficult to substitute, so manufacturers are forced to raise prices or change recipes.
At the same time, alternative suppliers, notably the U.S. and Argentina, have the opportunity to increase their market share.
The crisis has also highlighted the vulnerability of the region’s logistics infrastructure and heightened interest in financial instruments for international trade, including risk insurance and fast cross-border settlements.
Potatoes have become more expensive in Ukraine, with prices rising further over the past week.
The State Statistics Service has released data on food prices: what has become more expensive and what has become cheaper.
