This product is cashew nuts.
According to the latest data from the General Department of Customs, in December 2025 alone, Vietnam’s cashew nut export turnover reached $466 million, a significant 29% increase compared to the same period last year. Cumulatively, for the entire year of 2025, the total cashew nut export turnover reached $5.229 billion. This figure officially places cashew nuts in the “$5 billion club,” alongside other commodities like coffee, fruits and vegetables, and rice.
Notably, this marks the second consecutive year that Vietnam’s cashew industry has broken export turnover records. Previously, in 2024, the industry first surpassed the $4 billion mark in export turnover.
Additionally, in 2025, the cashew industry set a new record with exports reaching 766,585 tons, a 5.7% increase compared to 2024.
In 2025, for the first time, China surpassed the United States to become Vietnam’s largest cashew nut consumer market, with a turnover of $1.115 billion. The second and third positions were held by the United States and the Netherlands, with turnovers of $975 million and $495 million, respectively.
According to data from the Ministry of Industry and Trade, in the first 11 months of 2025 alone, cashew nut exports to China increased by 35.5% in volume and nearly 50% in turnover. With these results, China officially became the second billion-dollar market for Vietnam’s cashew industry, after the United States.
This is the first time Vietnam’s cashew nut export turnover has exceeded $5 billion. Illustrative image
Mr. Bach Khanh Nhut, Vice Chairman of the Vietnam Cashew Association (VINACAS), stated that the strong growth in cashew nut exports to China is due to the recovery of the Chinese economy. Additionally, the increase is driven by rising demand for health-beneficial agricultural products and Vietnamese enterprises’ proactive efforts to better meet Chinese partners’ requirements.
Meanwhile, Vietnam’s cashew nut exports to the United States have significantly decreased. According to VINACAS leaders, since April 2025, after the U.S. government announced retaliatory tariffs on trading partners, many U.S. importers have suspended cashew nut purchases due to concerns about the tariff rates that would apply once the shipments arrive in the U.S. This sentiment has significantly impacted Vietnam’s cashew nut exports to the U.S. in recent times.
In fact, over the past decade, the United States has consistently been the largest market for Vietnamese cashew nuts, accounting for over 20% of exports. Therefore, the challenges posed by retaliatory tariffs will significantly affect cashew nut exports to the U.S.
Vietnam Spends $4.5 Billion Importing Raw Cashew Nuts from Cambodia, Ivory Coast…
To meet production needs, Vietnam imported over 2.9 million tons of raw cashew nuts from various countries. Photo: Moit
Despite record-breaking export turnover and volumes, in 2025, Vietnam still spent $4.5 billion importing over 2.9 million tons of raw cashew nuts from various countries. This resulted in a trade surplus of over $700 million. Compared to 2024, Vietnam’s raw cashew nut imports increased by 17.7% in volume and 39.3% in turnover. Notably, the $4.5 billion figure also set a new record for Vietnam’s cashew nut import turnover, surpassing the $4.18 billion mark in 2021.
According to the General Department of Customs, Cambodia was Vietnam’s largest supplier of imported cashew nuts, accounting for 32.9% of total import turnover. The next largest markets were Ivory Coast, Nigeria, and Ghana, with market shares of 25.3%, 9.3%, and 7.7%, respectively. Compared to 2024, import turnover from these four markets in 2025 increased significantly: Cambodia by 38.7%, Ivory Coast by 47.6%, Nigeria by 42%, and Ghana by 12%.
Although Vietnam leads the world in cashew processing, the industry still faces the challenge of relying on imported raw materials. In reality, according to VINACAS, domestic supply meets only about 10% of production needs, with the remainder entirely dependent on Cambodia and Africa.
To address this paradox, in 2026, VINACAS and relevant ministries are implementing a strategy to restore raw material regions in the Central Highlands and Southeast. Proposals to tighten technical barriers for imported cashew nuts and programs to replant high-yield cashew varieties are expected to create a breakthrough.
According to VINACAS forecasts, from 2022 to 2027, the global cashew market is expected to grow at an average annual rate of 4.6%, driven by the increasing popularity of healthy foods and nutrient-rich nuts. Therefore, cashew nut consumption is projected to rise, offering opportunities for Vietnam’s cashew industry to thrive.
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