Statistics from the ministry showed that cashew exports in August stood at 70,000 tons worth 431 million USD.
In the January - August period, the industry shipped 482,700 tons abroad, earning 3.24 billion USD. Compared with the same period in 2024, the export volume edged down 1.2%, but value rose 16.4% thanks to higher export prices, which averaged 6,711 USD per ton, up 17.8% year-on-year. This was the highest level in years, reflecting robust global demand for nutritious nuts.
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Workers are processing cashew nuts for export. |
The ministry said that if the current momentum is maintained and exports are boosted in the remaining peak months, particularly during the festive season, the 4.5 billion USD goal is within reach.
To meet the target, the sector needs to earn about 1.26 billion USD in the last four months, a period that traditionally sees a surge in demand for nuts as snacks, gifts, and convenient food products.
Vice Chairman of the Vietnam Cashew Association (VINACAS) Bach Khanh Nhut highlighted rapid growth in exports to China in recent months as traders stockpile for the Mid-Autumn Festival. He added that increasing health-conscious consumption in China is also opening up significant opportunities for Vietnamese cashews.
China, the U.S., and the Netherlands were Vietnam’s three largest markets in the first eight months, accounting for 21.7%, 20%, and 9.4% of the country’s total turnover. Exports to China surged 47% while those to the Netherlands rose 20.1%. In contrast, shipments to the U.S. fell 11.7%. Among the top 15 markets, Latvia posted the strongest growth at 57%, and the U.S. recorded the sharpest decline.
Although the U.S.'s demand for cashew kernels has slowed, imports of processed products have grown considerably. This trend offers opportunities for Vietnamese firms to expand deep processing, enhance product value, and reduce reliance on raw exports in line with global consumption patterns, the MAE noted.
To ensure stable raw material supplies, Vietnamese enterprises spent over 3.3 billion USD on importing raw cashews during the first eight months, mainly from Cambodia, Côte d’Ivoire, Tanzania, and Ghana. Cambodia was the largest supplier with 1.5 billion USD, benefiting from close proximity and lower logistics costs.
Challenges remain, however. Major markets such as the U.S. and E.U. are tightening requirements on traceability, pesticide residues, and sustainability, particularly deforestation-free cultivation. Price and tariff competition from African exporters also make them strong rivals.
Nonetheless, Vietnam enjoys notable advantages, including advanced processing capacity, reliable supply, and a well-established brand in international markets. Global consumption is shifting toward healthy foods, with the world's cashew market projected by VINACAS to grow 4.6% annually during 2022-2027. This trend will facilitate Vietnam’s export growth.
To support the industry, the MAE is promoting transparency in product origin, digital traceability, clean raw material zones, and a national cashew brand.
Efforts are also under way to make inroads into high-demand markets such as the Middle East while boosting growth in the E.U., where nut- and cereal-based processed foods are gaining popularity. These moves are expected to help offset the decline in the U.S. market and sustain long-term growth.
Source: VNA