According to data from the General Department of Customs, by the end of October this year, Vietnam had exported 628,092 tons of processed cashew kernels, earning $4.28 billion. While the export volume increased by only 2.8%, the value jumped 19.4% compared to the same period last year.

In contrast, to sustain production, local enterprises spent nearly $4 billion to import 2.6 million tons of raw cashew nuts. This marks a 12.9% increase in volume and a sharp 37.1% surge in value year-over-year.

The average import price reached $1,523 per ton, up 21% from the same period in 2024, reflecting the rising input costs faced by the industry.

Though the import value has yet to surpass the 2021 peak of $4.1 billion - the highest ever - it has already exceeded the totals recorded in 2022, 2023, and 2024.

The rapid rise in cashew imports signals mounting cost pressures for processing enterprises, especially since 80-90% of raw cashews must be imported to meet export demands.

Cambodia remains Vietnam’s top supplier of raw cashew nuts. Within just 10 months, nearly 1 million tons of cashews from this neighboring country entered Vietnam, valued at over $1.47 billion. This represents an 18.5% increase in volume and a 39% jump in value year-over-year - marking the highest figure since 2022.

In recent years, Cambodia has rapidly expanded its cashew cultivation areas, becoming the world's second-largest producer of raw cashew nuts.

According to the Cambodian Cashew Association, the country’s cashew exports in 2024 reached $1.15 billion, a 31% increase from the previous year, with approximately 90% of that volume going to Vietnam.

Customs data shows that Cambodian cashews have consistently accounted for a large share of Vietnam’s total raw cashew imports. Specifically, the share was 44.7% in 2021, 35.4% in 2022, and 40.8% and 26.2% in 2023 and 2024, respectively. In the first 10 months of 2025, Cambodian cashews made up 36.8% of total imports.

Besides Cambodia, Vietnam also imports significant quantities of raw cashews from Côte d'Ivoire, Nigeria, Ghana, and Tanzania to maintain its status as the world’s top exporter of processed cashew kernels.

Industry estimates suggest Vietnam needs more than 3.5 million tons of raw cashews annually for processing. However, the domestic supply only meets just over 300,000 tons, making heavy reliance on imports unavoidable.

This dependence creates substantial challenges for processors, particularly as raw material prices have at times risen faster than the export price of finished kernels. As a result, many processing plants have suffered financial losses.

Beyond pricing concerns, industry experts warn that countries like Cambodia and several African nations are shifting from exporting raw cashews to investing in preliminary and full-scale processing to increase product value.

If Vietnam’s cashew industry fails to develop its raw material sources strategically, more local factories may be forced to shut down in the near future due to raw material shortages.

Tam An