Illustrative image – Source: IT
According to the Ministry of Agriculture and Environment, by the end of October, Vietnam had imported 2.6 million tons of raw cashew nuts worth 4.01 billion USD — an increase of 13.8% in volume and 38.1% in value compared to the same period last year.
The average import price reached 1,523 USD per ton, up 21%, indicating rising input costs. Cambodia was the largest supplier, accounting for nearly 39%, followed by Côte d'Ivoire, Nigeria, and Ghana.
Although it has not surpassed the 4.1 billion USD mark set in 2021, this year’s import value remains among the highest in history. The rapid increase in import turnover reflects mounting cost pressures on processing enterprises, as 80–90% of raw cashew nuts must be imported to serve export demand.
On the other hand, cashew kernel exports in the first ten months reached approximately 4.25 billion USD, nearly equivalent to the import value. This balance shows that the industry's profit margin remains thin, with most added value coming from shelling, processing, and packaging.
According to the Vietnam Cashew Association, to improve the trade balance, the industry needs to expand domestic raw material areas, promote deep processing (such as roasted, organic, and premium packaged products), and build a national brand for Vietnamese cashews.
Since mid-2024, raw and processed cashew prices have rebounded in line with the global commodity cycle. Major markets such as the U.S., China, and India have resumed imports, pushing Vietnam’s FOB cashew kernel prices to their highest level in two years. However, this increase has not been sufficient to offset raw material costs, leaving many enterprises with low net profits.
Thi Hà
Source: VNExpress
