VIỆT NAM TARGETS US$4.5 BILLION IN CASHEW EXPORTS FOR 2025

Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7 per cent in volume but a surge of 20.4 per cent in value annually.

Workers pack cashew nuts at Đức Thịnh Production and Trading Co Ltd, former Bình Phước Province. — VNA/VNS Photo

HÀ NỘI — Việt Nam is aiming to export cashews worth US$4.5 billion in 2025, up 2.7 per cent 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 tonnes, earning $2.36 billion, a drop of 2.7 per cent in volume but a surge of 20.4 per cent 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 tonne, up 23.8 per cent compared to the same period in 2024. China, the US and the Netherlands remained Việt Nam’s top three cashew buyers, accounting for 22 per cent, 21.6 per cent, and 8.4 per cent of total export value, respectively.

Compared to the similar period last year, cashew export revenues rose by 41.2 per cent to China, 0.1 per cent to the US, and 22.4 per cent to the Netherlands.

To sustain growth, the ministry is calling for stepped-up efforts to tap into emerging markets with strong demand but limited Vietnamese presence, including the UAE and Saudi Arabia. The EU, now Việt Nam’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 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 per cent between 2022 and 2027.

In 2024, Việt Nam exported a record 730,000 tonnes of cashews, earning $4.37 billion, a year-on-year increase of 20.2 per cent. — VNS

Source: VNS