According to Vietnam Customs, July exports reached 68,000 tons, generating USD 460 million - up 1.3% in volume and 11% in value compared with July 2024. Cumulatively, cashew exports hit 413,000 tons worth USD 2.8 billion, up 18.3% in value year-on-year.

The average export price stood at USD 6,805 per ton, 21.4% higher than last year - the highest in years - reflecting growing global demand for nutritious nuts.

China, the US, and the Netherlands remained Vietnam’s top three markets, accounting for 22.4%, 20.3%, and 9.1% of total exports. However, the key shift was China surpassing the US.

Shipments to China totaled 96,000 tons worth USD 608 million, up nearly 29% in volume and 47% in value compared with the same period in 2024. In July alone, China spent almost USD 83 million on over 13,000 tons, nearly 20% of Vietnam’s monthly exports.

Bach Khanh Nhut, Vice Chairman of the Vietnam Cashew Association (Vinacas), said: “Exports to China have surged in the past two months as traders stockpile food ahead of the Mid-Autumn Festival.”

The Import-Export Department attributed the rise to China’s economic recovery, stronger demand for healthy agricultural products, and Vietnamese companies’ ability to meet stricter Chinese requirements.

US demand falls amid tariffs

In contrast, exports to the US dropped sharply. In the first seven months, shipments reached 83,000 tons worth USD 561 million, down 27.5% in volume and 11.7% in value. The decline stems largely from US retaliatory tariffs introduced in July, raising import duty to 20%. Higher costs eroded Vietnam’s price competitiveness, forcing US buyers to cut orders or switch to alternative suppliers such as Ivory Coast and Brazil.

According to the US International Trade Commission, Vietnam still supplied 87% of US cashew imports in the first half of the year, but volume slipped 10%. The average import price of USD 6,941 per ton from Vietnam was significantly higher than rival suppliers, further pressuring demand.

Vietnam maintains world’s top exporter title for 18 years

Vietnam has been the world’s largest cashew exporter for 18 consecutive years, commanding more than 80% of global supply. In 2024, exports reached 730,000 tons worth USD 4.37 billion, up 20.2% from 2023. With current momentum, the 2025 target of USD 4.5 billion is within reach, especially as demand traditionally spikes during year-end holidays.

Vinacas said rising global interest in healthy snacking has bolstered Vietnam’s competitive edge. Demand for processed cashew products is also creating new opportunities. While US imports of raw kernels fell, imports of processed cashew products climbed more than 30% in the first half of 2025.

Vietnam currently cultivates around 306,000 hectares of cashew, with 2024-2025 output estimated at 311,000 tons. The Ministry of Agriculture and Environment is working on transparent traceability systems, digital data tracking, sustainable farming regions, and building a national brand for cashews.

PV