Vietnam's Cashew Nut Exports: Overview and 2025 Update
Vietnam's Cashew Nut Exports: Overview and 2025 UpdateVietnam is the world's leading exporter of cashew nuts, holding over 80% of the global processed cashew kernel market share for the 18th consecutive year as of 2024. The industry is a key pillar of the country's agricultural economy, generating billions in annual revenue and employing millions in processing and farming. Primarily concentrated in southern provinces like Binh Phuoc (the "cashew capital"), Dong Nai, and Ba Ria-Vung Tau, Vietnam's success stems from advanced processing technology, skilled labor, and a favorable climate. However, the sector relies heavily on imported raw cashew nuts from African countries like Côte d'Ivoire, Nigeria, and Ghana, which accounted for the bulk of Vietnam's raw imports in 2023 (e.g., over 784,000 tons from Côte d'Ivoire alone).
2024 Performance (Baseline for 2025)In 2024, Vietnam achieved a record-breaking export year:
2025 Performance (Year-to-Date as of September 25, 2025)As of the first half of 2025 (January–June), exports showed resilience despite a slight dip in volume, driven by a 23.8–23.9% surge in average prices ($6,805–$6,812 per ton). By June, monthly exports hit 67,930 tons worth $463.6 million (up 5.9% in volume and 21.7% in value from June 2024). The first eight months suggest the full-year target is achievable, especially with peak demand during year-end holidays and the Lunar New Year.
Sources: Vietnam Ministry of Agriculture and Environment; General Department of Customs.
- Volume: Approximately 730,000 metric tons.
- Value: US$4.37 billion, up 13.3% in volume and 20.2% in value from 2023.
- Key Markets: Exports reached over 90 countries, with strong growth in the Americas (up 30.4% in value), Asia, and Europe. The US remained the top destination (179,480 tons worth $1.07 billion in the first 11 months), followed by China and EU countries like the Netherlands, Germany, and Spain.
2025 Performance (Year-to-Date as of September 25, 2025)As of the first half of 2025 (January–June), exports showed resilience despite a slight dip in volume, driven by a 23.8–23.9% surge in average prices ($6,805–$6,812 per ton). By June, monthly exports hit 67,930 tons worth $463.6 million (up 5.9% in volume and 21.7% in value from June 2024). The first eight months suggest the full-year target is achievable, especially with peak demand during year-end holidays and the Lunar New Year.
|
Period
|
Volume (Metric Tons)
|
Value (US$ Billion)
|
YoY Change (Volume)
|
YoY Change (Value)
|
Avg. Price (US$/Ton)
|
|---|---|---|---|---|---|
|
H1 2025 (Jan–Jun)
|
346,800
|
2.36
|
-2.7%
|
+20.4%
|
6,805 (+23.8%)
|
|
June 2025
|
67,930
|
0.464
|
+5.9%
|
+21.7%
|
6,825 (+14.9%)
|
2025 Target and OutlookThe Ministry of Agriculture and Environment has set an ambitious target of US$4.5 billion in cashew exports for 2025, a 2.7% increase from 2024's record. To hit this, the sector needs about $2.14 billion in the second half (or $1.26 billion in the final four months), which is feasible given seasonal demand surges. The overall Vietnam cashew market (including domestic consumption) is projected to reach $5.08 billion in 2025, growing at a 5.8% CAGR to $6.73 billion by 2030.
Top Export Markets in H1 2025 (Share of Total Value):
China's rise as the top buyer reflects stockpiling for festivals like Mid-Autumn, while the US shows stable demand. The EU remains a growth area, with increasing interest in processed nut products.
|
Market
|
Share (%)
|
Value (US$ Million)
|
YoY Value Change
|
|---|---|---|---|
|
China
|
22
|
526
|
+41.2% (now #1, surpassing US)
|
|
United States
|
21.6
|
~510
|
+0.1%
|
|
Netherlands (EU)
|
8.4
|
~198
|
+22.4%
|
Challenges and Opportunities
- Challenges: Heavy dependence on raw imports (e.g., 55.5% from Cambodia in H1 2025) risks trade deficits amid rising raw material costs (recently down from $1,450 to $1,350/ton). Global competition from African producers and fluctuating demand pose threats.
- Opportunities: Emerging markets like the UAE and Saudi Arabia offer untapped potential. Government initiatives include digital traceability, origin transparency, and a national cashew brand to boost competitiveness. The global cashew market is expected to grow 4.6% annually through 2033, driven by processed foods and snacks.
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