Vietnam targets $4.5 bln in cashew exports for 2025

Vietnam is aiming to export cashews worth $4.5 billion 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 in the second half.

Figures from the first six months show cashew exports reached 346,800 tons, earning $2.36 billion, 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 per ton, up 23.8% compared with the same period in 2024. China, the U.S. 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 U.S., 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, 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 to $1,350 per ton, 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 tons of cashews, earning $4.37 billion, a year-on-year increase of 20.2%.