According to the Ministry of Agriculture and Environment, in August alone, Vietnam’s cashew exports were estimated at 70,000 tons, valued at approximately $431 million. Over the first eight months of the year, Vietnam exported around 482,700 tons of cashews, generating $3.24 billion in revenue. Compared to the same period last year, export volume slightly declined by 1.2%, but export value surged by 16.4%. The main reason was the average export price reaching $6,711 per ton—up 17.8%—the highest level in many years.
To reach the $4.5 billion target, the industry needs to earn an additional $1.26 billion in the final four months of the year—a period when consumer demand typically rises in major markets such as the U.S., Europe, and China due to the festive and holiday season. Currently, China, the U.S., and the Netherlands are Vietnam’s top three export markets, accounting for 21.7%, 20%, and 9.4% of total export value, respectively. Notably, exports to China surged by 47%, to the Netherlands by 20.1%, while exports to the U.S. declined by 11.7%. Among the top 15 markets, Latvia recorded the most impressive growth, reaching 57%.
Vietnam’s cashew industry is aiming for $4.5 billion in export revenue in 2025.
In addition to exports, Vietnam is also ramping up imports of raw cashew nuts to ensure sufficient supply for processing. Over the past eight months, domestic enterprises have spent more than $3.3 billion importing from Cambodia, Côte d’Ivoire, Tanzania, and Ghana. Cambodia remains the largest supplier, contributing $1.5 billion in trade value thanks to its close geographic proximity and low logistics costs.
Experts believe that with this positive growth momentum, Vietnam’s cashew industry has a strong opportunity to break through and firmly consolidate its position as the world’s leading cashew exporter.
By T.H.
Source: Intellectual Property Business Magazine
