In addition to durian, coffee, and pepper , cashew is an export item considered a treasure of Vietnam’s agricultural sector. The country has been the largest exporter of cashew nuts in the world for 18 consecutive years, accounting for over 80% of the global export volume. Notably, Binh Phuoc province has a cashew cultivation area of over 152,000 hectares, accounting for nearly 50% of Vietnam’s total cashew area, with 1,400 processing facilities.
Regarding the export situation, according to statistics from the General Department of Customs, Vietnam exported nearly 29,000 tons of cashew in February, worth nearly 200 million USD. This was a decrease of 22.8% in volume and 21.5% in value compared to January 2025.
In the first two months of this year, the export value from cashew nuts reached over 455 million USD with more than 66,000 tons, a decrease of 27.6% in volume and a decrease of 7.7% in value compared to the first two months of 2024. Notably, the average price was 6,859 USD/ton, a significant increase of 27.6% compared to the same period in 2024.
Vietnam holds up to 80% of the world’s total cashew export.
In terms of the market, the United States is the largest customer of Vietnamese cashews, with over 15,000 tons in the first two months of the year, worth more than 103 million USD. This was a decrease of 33% in volume and 15% in value compared to the same period last year. The average price saw a strong increase of 28%, equivalent to 6,754 USD/ton.
The Dutch market ranked second with over 7,000 tons, worth nearly 51 million USD, an increase of 15% in volume and a significant 43% in value compared to the same period last year. The average export price achieved a record with 7,017 USD/ton.
China was the third-largest importer with 6,932 tons, equivalent to over 44 million USD, a sharp decrease of 56% in volume and a 50.4% decrease in value. The average price was 6,428 USD/ton, an increase of 13% compared to the last year.
Since the end of 2024, the prices of raw cashew have continuously set records. It is now in the harvest season, so the price remains high. The reason is that the supply does not meet the demand. In recent years, the area of cashew has significantly decreased.
In 2024, the cashew processing and export industry faces many challenges, especially the unusually high price of raw cashews. However, this is the first year in the 35-year history of development that the cashew industry’s export turnover has exceeded 4 billion USD.
In the past 2-3 years, the price of cashew nuts has increased, so some farmers in the Central Highlands have replaced their aging pepper gardens with cashew. They used cashew varieties with very high yields, reaching 5-6 tons per hectare, bringing in good profits that encourage farmers to stay committed for the long term.
The demand for cashew nuts in the domestic market and the export market is expected to increase due to the growing trend of healthy snacking. Cashews are a nutritious food with an ever-expanding export market. The Vietnam Cashew Association has forecast that cashew nut exports will bring in about 4.5 billion USD this year.