Hanoi (VNA) – Vietnam is aiming to export cashews worth 4.5 billion USD in 2025, up 2.7% year-on-year, according to the Ministry of Agriculture and Environment. To hit this target, the sector must generate around 2.2 billion USD in the second half.
Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7% in volume but a surge of 20.4% in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes.
The average export price in the first half stood at more than 6,805 USD per tonne, up 23.8% compared with the same period in 2024. China, the US and the Netherlands remained Vietnam’s top three cashew buyers, accounting for 22%, 21.6%, and 8.4% of total export value, respectively. Compared to the similar period last year, cashew export revenues rose by 41.2% to China, 0.1% to the US, and 22.4% to the Netherlands.
To sustain growth, the ministry is calling for stepped-up efforts to tap into emerging markets with strong demand but liVietnamese pesence, including the UAE and Saudi Arabia. The EU, now Vietnam’s third-largest cashew market, has also shown consistent growth in recent years.
A further boost to the industry is the recent decline in raw cashew prices, down from 1,450 USD to 1,350 USD per tonne, which offers cost advantages for manufacturers ahead of the peak export season around year-end festivals and the Lunar New Year.
The Vietnam Cashew Association has forecast the global market to grow at an annual average rate of 4.6% between 2022 and 2027.
In 2024, Vietnam exported a record 730,000 tonnes of cashews, earning 4.37 billion USD, a year-on-year increase of 20.2%./.
Cashew industry faces risk of trade deficit
Cashew nuts are one of the exports which have created a large market for Vietnam, however, the industry faces the risk of trade deficit due to higher raw material prices.
