France, April 26 -- Pistachios from Iran

The war in the Middle East is driving up pistachio prices, already high due to two years of falling production in the United States, Iran and Turkey, the world's three largest producers, and rising demand in food manufacturing and luxury chocolates, like the infamous pistachio-filled Dubai chocolates.

Iran, which supplies about a third of global exports, notably high-quality shipments to the European Union, has seen its exports disrupted by blockages in the Strait of Hormuz.

While partners in the EU and the UK still hold pistachio stocks, says Jose Gutierrez Fernandez, a nut and spice market analyst at S&P Global, there could be further supply problems if they are not replenished soon.

The winn...